In the presence of oil cartel OPEC kingpin Saudi Arabian Oil Minister, Khalid A. Al-Falih, Modi said efforts at artificially distorting prices were self-destructing
Prime Minister Narendra Modi today called for reasonable and responsible pricing to provide easy access of affordable energy to all.
In the presence of oil cartel OPEC kingpin Saudi Arabian Oil Minister, Khalid A. Al-Falih, Modi said efforts at artificially distorting prices were self-destructing.
It is in the interest of oil producers that consuming markets grow, he said addressing the International Energy Forum (IEF) conference here.
He further said that India needs energy which is accessible and affordable to the poor.
Access to clean, affordable and sustainable supply of energy is key, he said, pitching for responsible pricing of oil and gas.
The Prime Minister also said India has achieved high growth rate with low inflation.
Stating that energy consumption has shifted to non-OECD countries, he said India will be a key driver of energy demand in the next 2-5 years.