Need for more indigenisation of India’s oil and gas sector: Petroleum secy
Petroleum Secretary Tarun Kapoor believes that a large number of products, which are used in the oil and gas sector, and are imported at present, should be manufactured in India. “We are looking at a large number of products which are currently being imported. We want them to be made in India.
We have asked Engineers India Ltd (EIL) to work on vendor development. The government sector alone in the oil industry has a capital expenditure of over Rs 1 trillion a year, there is operating expenditure also and the private sector is spending too. In all around Rs 1.5 trillion to Rs 2 trillion is spent by this sector annually,” Kapoor said while addressing the Energy Startup Summit 2021 organised by Tata Motors and Repos Energy.
Kapoor gave the example of gas meters and said that presently there is not enough capacity in the country to manufacture them.
Speaking at the event earlier, Chief Executive Officer of NITI Aayog, Amitabh Kant, said
