Tuesday, August 20 2019

August 2, 2019

Indias growing energy sector is attractive for foreign investors

New Delhi-Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan has said that Indias growing energy sector is attractive for foreign investors. Speaking at Bloomberg NEF New Delhi Summit , he said that it has repeatedly received funding from Sovereign Wealth Funds, Pension Funds, long-term strategic investors from Western countries, Asian Countries and the Middle East. The economy projected to grow at more than 7%, will attract more funding. Many companies have successfully raised funding through overseas bond market and this funding route is likely to grow manifold going forward, he added.

Mr Dharmendra Pradhan said India remains a bright spot in the global economy. With strong domestic economy and supportive policy environment, the Government is committed towards achieving holistic, inclusive and sustainable economicdevelopment.India will become 3 trilliondollar economy this year and aims to achieve a 5 trillion dollar target in the near future. To achieve this target, India needs secure, affordable and sustainable energy to sustain thehigh growth and provide energy access to 1.3 billion people.