Work is on to double India's oil refining capacity in next five years, says PM Narendra Modi

New Delhi: Prime Minister Narendra Modi on Saturday (November 21, 2020) stated that the work is on to double India's oil refining capacity in the next five years.

"Work is on to double the oil refining capacity in the next five years, energy security-related startup ecosystem is being strengthened and a fund has been created for students and professionals," the Prime Minister said during his address at the 8th Convocation of Pandit Deendayal Petroleum University in Gandhinagar (Gujarat).

He remarked that today the energy sector in India has immense potential for growth, entrepreneurship and employment and announced that the country is moving forward with the goal of reducing its carbon footprint by 30-35% and efforts are taken to increase the share of natural gas in energy needs by 4 times in this decade. 

This is to be noted that India is reportedly the second-largest steelmaker and the third-largest energy consumer.

Union Minister of Petroleum and Natural Gas and Steel Dharmendra Pradhan in June this year had said that India has about 250 million tonnes of refining capacity and in the coming 10 years this capacity will go up to 450-500 MnT. 

Earlier in the day, PM Modi also laid the foundation stone of '45 MW Production Plant of Monocrystalline Solar PhotoVoltaic Panel' and 'Centre of Excellence on Water Technology' and inaugurated the 'Innovation and Incubation Centre – Technology Business Incubation', 'Translational Research Centre' and 'Sports Complex' at the University.

Addressing the students, PM Modi said it is not an easy thing to graduate at a time when the world is facing such a big crisis and told them that their abilities are much bigger than these challenges. He added that students are entering the industry at a time when due to pandemic, major changes are taking place in the energy sector across the world.

The Prime Minister asked the students to have a purpose in life and stressed that it's not that successful people don't have problems, but the one who accepts challenges, confronts them, defeats them, solves problems, only succeeds. He added those who take on challenges, later succeed in life. 

He said the youth of the 1922-47 period sacrificed everything for freedom and urged the students to live for the country and join the movement of Atmanirbhar Bharat and develop a sense of responsibility.

The Prime Minister remarked that the seed of success lies in a sense of responsibility and a sense of responsibility should be turned to the purpose of life. He pointed out that the same people are successful in life, do something by which there is a sense of responsibility in their lives. Those who fail are the ones who live in the sense of burden. He added a sense of responsibility also gives rise to a sense of opportunity in a person's life. 

He said India is progressing ahead in many sectors and young graduates must march ahead with commitment and emphasized on protecting nature and the environment.

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