Ministry of Petroleum and Natural Gas & Steel Current Affairs - 2020

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CII organizes “Steeling India-2019”

On December 16, 2019, the Confederation of Indian Industry organized “Steeling India 2019” conference, a drive to increase metal intensity in key sectors. Union Minister for Steel, Petroleum and Natural Gas Shri Dharmendra Pradhan participated in the conference.

Highlights

The session focused on key industries namely automobile, infrastructure, railway, water, irrigation and housing. It discussed the strategies to promote steel intensive structures and to augment steel consumption. Steel producers, consumers and policy advisors attended the conference. The conference developed a road map to increase steel intensity in key sectors. It also brought in strategies to mitigate supply chain issues in the steel sector.

Significance

CII organized the conference with the objective of augmenting steel production. The conference will help India pave ways to achieve its target of 300 MT of production by 2030 (according to National Steel Policy). The World Steel Association predicts steel demand in India to reach 103 MT (Million Tonnes) in 2019.

Experts believe that in coming days, rural market is to play a crucial role in steel sector. This is mainly because demand for fast-moving consumer goods like two-wheelers, mobile phones, etc. in rural markets are increasing at faster rate.

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3rd India Energy Forum by CERAWeek held in New Delhi

The third India Energy Forum by CERAWeek was held in New Delhi from 13-15 October 2019. At the forum the Union Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan called for the inclusion of petroleum products under GST regime and urged Union finance minister to at least begin by including natural gas and ATF (aviation turbine fuel) in GST.

Key Highlights

Participants: Hundreds of delegates from Indian as well as regional energy companies, institutions, and governments, and also a number of international speakers gathered at 3rd India Energy Forum by CERAWeek under the patronage Union Ministry of Petroleum and Natural Gas & Steel and Union Minister Dharmendra Pradhan.

Key topics explored at Forum include:

  • India’s energy transition
  • Low-carbon & sustainable energy solutions for India
  • The provision of heat, light, and mobility
  • Game-changing industry technologies
  • Outlook for global oil and gas markets & investment
  • Growing domestic oil and gas production and expanding use of natural gas across the economy
  • An opportunity to understand new government’s priorities and response from public and private sectors

Way Ahead

India is expected to get $58 billion investment in the exploration and production sector by 2023 and an estimated investment of $60 billion is underway for augmenting gas infrastructure.

As the energy sector is on the top of government’s priority list, it is committed to do everything it takes to meet renewable targets. The government is pushing to achieve 10% blending percentage of ethanol in petrol by 2022, which in turn will boost farm economy.

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