Hardeep Puri's big statement regarding energy security, said that it will give impetus to the economy to reach four lakh dollars before 2027

Obnews Desk: Petroleum and Natural Gas Minister Hardeep Singh Puri said India's energy security will accelerate national efforts to become a $4 trillion economy much ahead of the estimated target of 2027. Along with this, while addressing a session of the 7th Mangaluru Literature Festival here, Puri said that the International Monetary Fund has predicted that the Indian economy will reach its target by the year 2027.

Hardeep Singh Puri has said that if the current pace continues, India will reach there much earlier. There is no shortage of petroleum products in the world. In fact, some oil producing and exporting countries cartelize and present fossil fuels as 'short-term resources' for their own benefit, and further said that India has increased its oil refinery capacity by 50%. It has been increased from lakh barrels to 54 lakh barrels per day.

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Development and use of green energy sources

Along with this, there is scope to increase the installed capacity to 60-70 lakh barrels per day. Along with the traditional markets of West Asia, India now imports crude oil from Russia as well as the US and Suriname. Claiming 'fuel abundance scenario', Hardeep Singh Puri has said that America will inject 13 million barrels of oil into the market. Availability and challenges are worrying for Indian consumers.

The Union Minister also said that the development and use of green energy sources has also started boosting growth in many sectors. The 7th edition of the festival was inaugurated by renowned Kannada writer S L Bhairappa at the TMA Pai Auditorium. After its inauguration, Puri delivered the keynote address on India's energy security.