The government launches start-up programmes in oil and gas sector

The government launches start-up programmes in oil and gas sector

The government launches start-up programmes in oil and gas sector

On October 25, 2017,  the Minister for Petroleum and Natural Gas launched the Start-up Programmes for entrepreneurs in Oil and Gas sector.

  • Such venture capital funds would encourage start-ups based on innovative ideas in the energy sector.
  • The Minister stated that it is important to develop new business models, marketing plans, technology and innovations in the sector.
  • The government stated that start-ups in the oil and gas sector are not short-term investments, but a long-term commitment.
  • The business partnership between the start-ups and the PSUs of Petroleum Ministry would create a new benchmark for growth and job creation.
  • Such business partnership would create a huge opportunity for job creation in India by investing over USD 300 bn in the energy sector in the next ten years.

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