Press Information Bureau <br />Government of India<br />Ministry of Steel<br /><span style='float:right;font-size:80%;font-weight:lighter'>13 DEC 2019 10:30PM by PIB Delhi</span>
Dharmendra Pradhan calls for Industry Led, Innovation Driven, State Supported Model of Wealth Creation

Union Minister for Petroleum and Natural Gas and Steel Shri Dharmendra Pradhan participated in the “Business Today  Mindrush 2019” in Mumbai today. Theme of the event was ‘Disrupt or Die.’

Speaking on the occasion, Shri Pradhan called for industry led, innovation driven, state supported model of wealth creation. “We must create an industry led, innovation driven, state supported model of wealth creation. Industry, academia and policymakers must come together to solve problems of society through innovation  and  generate value for society,” he said.

Talking  about creative disruption, he said, “Our Government under the leadership of Prime Minister Shri Narendra Modi has worked on the paradigm of creative disruptions to achieve unprecedented  transformation. Over 35 cr bank accounts have been opened under Jan Dhan Yojana, 3cr houses got electricity in just three years. Rural India, too is undergoing transformation”. He informed that  government has taken the resolve to ensure that there should be no family without a house of its own, no house without piped water supply. “Creative disruptions are also needed in the energy sector. We have 600MT of non-fossilised biomass available in the country in farms, jungles and cities. By converting this huge biomass into energy we will be able to improve energy security for the country.5000 CBG plants are being developed across India for converting Biomass to energy, with off take guarantee offered by our Oil Marketing Companies.We are also focusing on exploring more new and environment friendly alternative energy sources like hydrogen,” he added.

Speaking about India’s economic transition, the minister  said, “India is moving from being a developing nation to being a developed nation. This transition will require greater synergy between all stakeholders. We have to assimilate ourselves to the idea of change and make strive towards Hon. Prime Minister Narendra Modi's vision of New India, a mass movement.” He further mentioned that there is a need to link our domestic economy with our intellectual capacity. Shri Pradhan  said that India’s domestic market, intellectual workforce and risk taking ability can offer solutions to not only our domestic problems but also to some global problems.