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Conventional fuel demand is expected to grow despite the growth of electric vehicles in the country, according to the Minister for Petroleum and Natural Gas, Dharmendra Pradhan.
Speaking at the annual KPMG ENRich summit, Pradhan said: "Even after the introduction of EVs, refineries will still be required as demand for conventional fuel is also going to increase for some years.”
According to Pradhan, India’s consumption is going to grow in the world energy mix.
He said, “India consumes only 6 per cent of world's energy, this will go up to 25 per cent in next 15-20 years.”
Pradhan also said that natural gas should be included under the Goods and Services Tax regime. “Coal is currently under the 5 per cent GST slab, but natural gas is not despite being a much cleaner fuel,” he said.
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