Salient Points of PM Narendra Modi’s address at the inaugural session of PETROTECH – 2016 exhibition on 5 Dec, 2016

• While global economy goes through uncertainty, India has shown tremendous resilience. FDI is at the highest level

• India’s economy is expected to grow fivefold by 2040

• We expect growth in manufacturing, transport, civil aviation among other sectors

• Hydrocarbons will continue to play an important part in India’s growth

• Energy in general and hydrocarbons in particular are an important part of my vision for India’s future

• India needs energy which is accessible to the poor. It needs efficiency in energy use

• Energy sustainability, for me, is a sacred duty. It is something India does out of commitment, not out of compulsion

• We need to increase our domestic oil and gas production and reduce import dependence

• My message to global hydrocarbon companies is: we invite you to come and Make in India

• Our commitment is strong and our motto is to replace Red Tape with Red Carpet

• To meet the increasing demand, we need affordable and reliable sources of energy

• We must also be sensitive towards the environment