India will be a key driver of energy demand in next 2-5 yrs: PM Modi

Prime Minster Narendra Modi on Wednesday called for reasonable and responsible pricing to provide easy access to affordable energy to all.

In the presence of oil cartel OPEC kingpin Saudi Arabian Oil Minister, Khalid A. Al-Falih, Modi said efforts at artificially distorting prices were self-destructing.

It is in the interest of oil producers that consuming markets grow, he said addressing the International Energy Forum (IEF) conference here.

He said that India needs energy which is accessible and affordable to the poor.

Access to a clean, affordable and sustainable supply of energy is key, he said, pitching for responsible pricing of oil and gas.

The Prime Minister also said India has achieved high growth rate with low inflation.

Stating that energy consumption has shifted to non-OECD countries, he said India will be a key driver of energy demand in the next 2-5 years.

Modi lauded his govt towards boosting in local manufacturing through Make in India & filling of youth in industries such as textile, petrochemical, engineering.

Minister for External Affairs Sushma Swaraj will deliver the valedictory address at the Concluding session on 12th of this month. Apart from member countries, 20 other countries where India has oil and gas engagements are invited.

OneIndia News (with agency inputs)