Oilfields regulation act update to boost production: PM Modi
exploration and production in the country, Prime Minister Narendra Modi said Tuesday.
The Rajya Sabha, or the Upper House of Parliament, has already passed the amendments to the ORDA, which will now need the approval of the Lower House.
The ORDA amendments and other measures such as opening the exclusive economic zone and establishing a single-window clearance system will facilitate exploration and production, Modi said in a video message to a gathering at the India Energy Week here, in the national capital.
Modi said India's energy ambitions stand on five pillars: harnessing resources, encouraging innovation among brilliant minds, economic strength and political stability, strategic geography making energy trade attractive and easier, and commitment to global sustainability.
Significant milestones will be achieved in the next five years, he said. «Many of India's energy goals are aligned with the 2030 deadline, including the addition of 500 gigawatts of renewable energy capacity, achieving net zero carbon emissions for Indian Railways, and producing five million metric tonnes of green hydrogen annually,» he said.
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