Petroleum Minister Dharmendra Pradhan on Wednesday stressed the importance of innovation, saying it is a key factor which will boost growth and help India become a $5 trillion economy by 2024-25.
Speaking at the launch of Niti Aayog’s Atal Community Innovation Centre (ACIC) programme, Pradhan said that India will become the largest consumer of fossil fuel in the next 15 years, so there is need to reduce India’s crude oil import bill.
“India’s crude oil import bill is pegged at Rs 6 lakh crore per annum and the country will become the largest consumer of oil in the next 15 years.
“Can Atal Community Innovation Centres come up with innovative methods which will help India in reducing its fossil fuel import bill? … India will not become $5 trillion economy without innovation,” he said.
