Noting that energy consumption has shifted to non-OECD countries, Prime Minister Narendra Modi on Wednesday said India will be a key driver of energy demand in the next two to five years.
Speaking at the 16th International Energy Forum Ministerial Meeting, the PM stressed need for access to clean, affordable and sustainable supply of energy.
'Energy consumption has shifted to non-OECD countries. India will be the key driver of the global energy demand in the next two to five years. This is the fastest in the world economy,' PM said.
At the same time, he stressed for access to clean, affordable and sustainable supply of energy.
'Access to clean, affordable and sustainable supply of energy is key. India needs energy which is accessible and affordable to the poor,' the PM said.
Pitching for reasonable and responsible pricing to provide easy access of affordable energy to all, the PM said, 'Oil and gas are commodities of trade. Energy is essential for all sectors of the economy. If the world has to grow as a whole, producers and consumers need to share a productive and a cooperative relationship.It is in the interest of oil producers that consuming markets grow. We need to build up a global consensus, which will help the consumers and the producers.'
Expressing India's commitment to combating climate change, the PM said, 'India is committed to combating climate change and to ensure a sustainable future. We are committed to fulfilling these needs. Today India is the fastest growing economy in the world. India is also blessed with demographic dividend. Access to clean cooking fuel is very important to improve the standard of living.'
The Prime Minister also said India has achieved high growth rate with low inflation.
The PM said his government is boosting local manufacturing through Make in India and filling of youth in industries such as textile, petrochemical and engineering.
The International Energy Forum is the largest gathering of energy ministers from across the globe, industry leaders and heads of key international organisations.
It is the largest gathering of ministers from energy consuming, producing and transit countries.
Apart from member countries, 20 other countries are also attending the meet.