Transparent policies now to boost investment in energy: Pradhan

Singapore, Sept 9: With a view to supply energy at affordable prices to Indian consumers, the government has introduced transparent policies to encourage investment in refineries and petrochemical plants, Petroleum Minister Dharmendra Pradhan said on Friday. “Consumers are the kings in India. We want to provide affordable energy to our consumers,” Pradhan said here launching a road show for the auction 67 discovered small fields in India. He said participation by big global energy players like Saudi Aramco, Shell, BP and Rosneft is important for developing the energy sector and creating competition in the domestic market. “Rosneft is eyeing Indian market,” Pradhan said, adding that the Russian energy major is currently in negotiations with India’s Essar Group for participating in the refining sector. “When we are talking about free and transparent policies, we have to open our market. Consciously, we have deregulated our market and we are giving gradually price and marketing freedom to the investors,” he told reporters here. “Our focus is on simplifying policies and improving the environment for ease of doing business in the country,” the minister said. “Singapore and India can jointly partner for the mutual growth,” he added. (ians)