PSUs to invest Rs 3 lakh crore in hydrocarbon sector: Official -Governance Now

PSUs to invest Rs 3 lakh crore in hydrocarbon sector: Official

The sector attracted 40 percent more FDI in the past two and a half years than in the previous corresponding period

GN Bureau | December 7, 2016

#PSU #FDI

The government expects foreign direct investment in the hydrocarbon sector to pick up, said Department of Industrial Policy and Promotion (DIPP) secretary Ramesh Abhishek who added that the key driver will continue to be the public sector companies, which will invest Rs 3 lakh crore over the next three years.

The sector attracted 40 percent more FDI in the past two and a half years than in the previous corresponding period, Economic Times quoted him as saying.

Abhishek said that in the past two and a half years our FDI policy has been hugely liberalised and the result has been positive.

“In last two and a half years we have attracted $129 billion of FDI, but there is a huge need for investment given that India is the third largest consumer of energy in the world," said Abhishek while addressing Petrotech 2016.

Prime minister Narendra Modi had said at the same event that India needs to scale up domestic oil and gas production to cut imports. He said that Indian energy companies need to evolve into multinational companies.

Comments

#PSU
#FDI

Other News

Capital acquisition proposals worth Rs 1.10 lakh crore for defence forces cleared

The Defence Acquisition Council (DAC), under the chairmanship of Raksha Mantri Rajnath Singh, on Monday accorded Acceptance of Necessity (AoN), that is, in-principle administrative approval to various acquisition proposals of the defence forces at an estimated cost of about Rs 1,10,000 crore.

How Rafi, Raj Kapoor helped pave the way for a great uranium deal

There`s a certain moment in diplomacy that`s too personal to be captured in a communiqué, too small to make the front page, but more revealing than the front page. This week, prime minister Narendra Modi reached Tashkent and, amid the pomp of state visits, managed to evoke the old Bollywood tunes

Distinguishing Fish 1 and Fish 2: The pragmatism behind India’s WTO ratification

India became the 123rd WTO member to ratify the multilateral Agreement on Fisheries subsidies (AoFS) when it deposited the Instrument of Acceptance for Phase 1 on July 20, 2026. The ratification is restricted to disciplining Illegal, Unreported and Unregulated fishing (IUU), protection for overfished

The 7% growth problem: Why the next 7% will be harder

India has become accustomed to hearing the 7% growth number. It is now less a milestone than an expectation. Yet the paradox is becoming clearer: maintaining 7% growth may be considerably harder than achieving it once. India’s real GDP grew 7.7% in FY2025–26, following growth of 6.5% in FY202

The Constitution cannot be altered: Justice Abhay Oka

Justice Abhay Oka, who retired from the Supreme Court in May 2025, has said that the Constitution of India cannot be altered. Explaining the landmark Kesavananda Bharati judgment (1973) on the basic structure of the Constitution, he said, “This is one judgment that has saved democracy in India.&rdq