Shrikant Madhav Vaidya, Chairman, IndianOil delivered a key-note address on the topic, ‘India’s Energy Revolution’ on Day 2 of the ‘Zero Mile Samvad’, a Global Thought Leadership Summit hosted by the Indian Institute of Management, Nagpur.
On Day 2 of the conference, addressing the gathering of students, senior faculty members and industry leaders, Mr. Vaidya, Chairman, IndianOil shared his perspective on ‘India’s Energy Revolution: Can transition to Green Energy propel the nation to a 5 Trillion Dollar Economy and beyond?’.
Speaking on the occasion, Vaidya said, “While India is transforming to become a developed economy, it is also experiencing the energy revolution, which entails decarbonization of the energy sector. At the recently concluded COP28 conference on Climate Change, the world agreed for a transition away from fossil fuels in energy systems, in a just orderly and equitable manner. Keeping up with growth momentum of the nation, the decarbonisation of nation’s energy mix requires a pragmatic approach which allows rapid growth and creates enough scope for coexistence of all traditional and greener energy forms. This puts India uniquely on a ‘double transition’ path quite unlike what big, developed economies are going to experience.”
Sharing the perspective from energy industry point of view, Mr. Vaidya further said, “As the leading energy provider of the nation we have the mandate to ensure fuel security of the country and at the same time to spearhead energy transition of the nation.”
Highlighting how IndianOil is paving the way for cleaner and sustainable future of the India, Mr. Vaidya said, “Over the years, IndianOil has taken various pioneering initiatives to harness the green potential of biofuels and alternate energy sources. IndianOil has set up Asia’s first 2G Ethanol plant at Panipat to produce ethanol, utilizing Paddy straw as feedstock. IndianOil also setup a 3G ethanol plant at Panipat to process refinery off-gases to produce 4.3 crore litres of ethanol per annum. IndianOil is the first Oil and Gas company to market Compressed Bio-gas under the Brand Indigreen, and setting up 10KTA of green hydrogen plant are the testimony of our commitment to greening India’s energy landscape,” he added further.
The 2-Day conference had leaders from all walks of life sharing their perspective on the central theme, ‘Shaping India’s Triumph to a $5 Trillion Economy and Beyond’.