Global oil companies may get sops to set up production units in India

Global oil companies may get sops to set up production units in India

In its bid to streamline India’s energy sector, government think tank Niti Aayog is considering incentives for global oil majors to set up manufacturing and research and development facilities in the country.

Niti Aayog began discussions with the petroleum and natural resources ministry on the implementation of a new blue print for the sector for the next three years to significantly enhance domestic production and exploration while simultaneously augmenting refining and distribution of oil and gas to reduce India’s dependence on imports. Read more

Credits:economictimes.indiatimes.com

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