India To Relax Rules For Entry Into Fuel Retail Sector: Source


India To Relax Rules For Entry Into Fuel Retail Sector: Source

India is set to relax rules for setting up fuel stations after almost two decades, in a move expected to allow companies like Saudi Aramco, Total and Trafigura to gain a foothold in a sector dominated by state-run entities.

The new rules – suggested by an expert panel – mirror those in developed nations like the United States and Britain, and would allow convenience stores, shopping malls and hypermarkets to sell fuels if they are eligible, said an oil ministry source.

The government panel has recommended allowing marketing rights for sale of gasoil, gasoline and aviation fuel to companies with a net worth of 2.5 billion rupees.

India, where fuel demand is expected to rise in the coming years, has turned into a lucrative market after the government removed controls on retail pricing of gasoline and gasoil. Read More

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