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, “There is focus on new technologies like solid state batteries and direct solar wafers which are the future. The world is on the cusp of a mobility revolution which is going to be shared, connected and zero emission.”
“Rapid technological evolution is driving the transportation revolution in the world. Battery technology is evolving and global prices have fallen more than 90 per cent in the last 10 years to less than $ 100 per kilowatt-hour for some category of vehicles. At an overall level, the price hovers at around $139 per kilowatt-hour,” Kant added.
Pune-based Repos Energy is backed by Ratan Tata. It provides door-to-door diesel delivery through Repos mobile petrol pumps covering 150 cities in India.
A company statement said that Repos Energy has registered over 500 startups, out of which 200 startups have been recognised by the oil marketing companies and have obtained the licenses.