India to cut carbon footprint by 30-35pc: PM Narendra Modi

Prime Minister Narendra Modi on Saturday said that India has set a target of reducing its carbon footprint by 30 to 35 percent.

He made the statement while addressing the convocation ceremony of Pandit Deendayal Petroleum University (PDPU) through video conference.

"Today, our country is moving ahead with the target of reducing the carbon footprint by 30 to 35 percent. When I told this to the world, it expressed surprise and wondered if India can achieve it," he said.

"Efforts are on to increase the use of natural gas capacity four times during this decade, and work is also on to nearly double the oil refining capacity in the next five years," he said.

PM Modi also said that work is constantly going on to strengthen the startups in the energy sector, and a special fund has been allocated for the purpose.

"If you have any idea, product or a concept that you want to incubate, then this fund will be a good opportunity for you, and a gift from the government," he said.

"In the oil and gas sector alone, crores of rupees are going to be invested during this decade, so you have a lot of opportunities in this field," he added.

PM Narendra Modi also inaugurated various centres to boost research, innovation and learning at PDPU.

In October 2020, at the 4th India Energy Forum by CERAWeek, PM Modi said that India will drive the energy consumption in the world. He pitched for global oil and gas suppliers to adopt responsible pricing and move towards transparent and flexible markets.

He showcased his government's reforms in oil and gas exploration licensing policy and natural gas marketing as well as unveiled an ambitious plan to almost double the refining capacity. The government plans to does this while sticking to India's commitment to reduce carbon footprint, he said, adding the nation was on track to meet its target of generating 175 gigawatts of electricity from renewable energy sources such as solar and wind by 2022.

He also said 2020 has been a challenging year for the energy sector globally, with demand falling by almost one-third.

(Disclaimer: Additional background information has been added to this PTI copy for context)