Improving Ease of Doing Business one of key priorities: Dharmendra Pradhan

Dharmendra Pradhan Gives “3-I Mantra for Economic Growth"; Says Imagination, Intellect And Innovation Will Drive India Towards $5 Trillion Economy

Minister of Petroleum and Gas & Steel Shri Dharmendra Pradhan today participated in the 92nd Annual Session of FICCI in New Delhi. Giving 3-I mantra of India's growth, Shri Pradhan said that Intellect, Imagination, and Innovation will drive India towards a $5 trillion economy. Wealth creators of the country will have to play an important role in this transition, he added.

Speaking about the Government's efforts to improve the business climate in the country, Shri Pradhan said, "We believe in the principle of Minimum Government, Maximum Governance. Improving Ease of Doing Business is one of our key priorities. Reform measures undertaken by the Government have shown tremendous results."

About transformation in rural India, the Minister said, "Rural India is undergoing a transformation. PM KISAN Yojana is working towards increasing purchasing capacity in rural India. Our Government is working to ensure housing for all, piped water supply to every household and electricity to every household."

Speaking about India's energy landscape, he said, "We are on our way to become the world's largest energy consumer. We will use a combination of conventional fuel and other more sustainable options to create a balanced energy mix. We will also explore other new and sustainable sources of energy like Hydrogen. Technology, innovation will play an important role in this. "

Shri Pradhan also said that India is moving towards a gas-based economy and investments of about $100 bn is underway in India's energy infrastructure including renewables. About bioenergy, he said, "India has 600 million MT of biomass. On one hand, we are ensuring the highest standards of sustainability through BS-VI, on the other hand, we have made a roadmap to convert this bio to energy.5000 plants are going to be set up for this. Oil and Gas PSUs are giving uptake guarantee and price stability. This will also be an answer to the problem of environment pollution."

Regarding the steel sector, Shri Pradhan said, "India is the 2nd largest steel producer in the world. Ensuring raw material security, affordability and import diversification are some of our key priorities. We are targeting to become a net exporter of steel. Recently, we launched the Steel Import Monitoring System which will contribute towards this goal."

(With Inputs from PIB)