India's Fuel Retail Revolution: Easing Norms for a Greener Future
The Indian government is reassessing its fuel retail norms to encourage greater participation in its burgeoning fuel market while aligning with decarbonisation goals. An expert committee is reviewing the 2019 guidelines to streamline fuel authorisation and promote alternative fuels, inviting public feedback to shape forthcoming policies.
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The Indian government is taking steps to further liberalize its fuel retail sector, aiming to attract more players in the world's fastest-growing fuel market. This comes as part of its strategy to bolster energy security while fulfilling its national decarbonisation commitments.
In 2019, regulations were relaxed to reduce the entry barriers for non-oil companies, allowing entities with a net worth of Rs 250 crore to sell petrol and diesel. The Ministry of Petroleum and Natural Gas has now formed an expert committee to review the existing framework, headed by former BPCL marketing director Sukhmal Jain.
The committee will evaluate how well the 2019 policy has worked and ensure alignment with India's goals for alternative energy sources like CNG, LNG, and electric mobility. Feedback from stakeholders is being sought, reflecting a collaborative approach to crafting future guidelines.
(With inputs from agencies.)
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