Gift from govt — a special fund for startups in energy sector, says PM Modi

Prime Minister Narendra Modi on Saturday said that India has set a target of reducing the carbon footprint by 30-35% while addressing the convocation ceremony of Pandit Deendayal Petroleum University (PDPU) through video conference.

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“Today, our country is moving ahead with the target of reducing the carbon footprint by 30-35%. 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.

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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.