Latest news with #PHDCCI
Time of India
5 hours ago
- Business
- Time of India
India's petroleum consumption to surge 5.37% annually till 2030: PHDCCI Report
According to a recent report by the PHD Chamber of Commerce and Industry (PHDCCI), India's petroleum product demand is forecast to increase by a CAGR of 5.37 per cent between 2025 and 2030, largely propelled by the manufacturing and transportation sectors. Diesel, petrol, Aviation Turbine Fuel (ATF), and petroleum coke are expected to lead this surge. India's economy is projected to grow at over 6 per cent annually, with primary energy demand increasing at a compound annual growth rate (CAGR) of 5.4 per cent. This robust economic expansion will inevitably fuel higher energy consumption. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The 20 Most Expensive Cars Of All Time Additionally, Natural gas consumption is also projected to see substantial growth, with a nearly 60per cent increase (37 bcm/year) by 2030, reaching 103 bcm/year. The City Gas Distribution (CGD) sector, along with heavy industrial and manufacturing sectors, are anticipated to drive this demand. Despite this rising demand, India faces inherent vulnerabilities as over 85per cent of its crude oil needs are met through imports, positioning it as the world's third-largest oil importer. Furthermore, geopolitical instabilities, particularly in crucial chokepoints like the Hormuz Strait and Suez Canal, pose consistent threats to crude supply and pricing. Live Events On the price front, Brent crude prices are forecast to decline from an average of USD 81/barrel in 2024 to USD 74/barrel in 2025 and further to USD 66/barrel in 2026. This decline is attributed to a global expansion in petroleum production outside OPEC+ and a more moderate demand growth. Domestically, India's crude oil production is expected to increase over the short term, reaching 48.5 Million Metric Tonnes (MMT) by FY 2026-27, before a projected decline to 45.5 MMT by FY 2029-30 due to maturing oil fields and limited new discoveries. In contrast, natural gas production is anticipated to rise significantly, reaching 54.7 Billion Cubic Meters (BCM) by FY 2029-30. This growth aligns with the government's objective to increase natural gas's share in the primary energy mix from 6 per cent to 15 per cent by 2030, a commitment driven by cleaner energy goals and reduced carbon emissions.
Times of Oman
8 hours ago
- Business
- Times of Oman
India's petroleum consumption to surge 5.37% annually till 2030: PHDCCI Report
New Delhi: According to a recent report by the PHD Chamber of Commerce and Industry (PHDCCI), India's petroleum product demand is forecast to increase by a CAGR of 5.37 per cent between 2025 and 2030, largely propelled by the manufacturing and transportation sectors. Diesel, petrol, Aviation Turbine Fuel (ATF), and petroleum coke are expected to lead this surge. India's economy is projected to grow at over 6 per cent annually, with primary energy demand increasing at a compound annual growth rate (CAGR) of 5.4 per cent. This robust economic expansion will inevitably fuel higher energy consumption. Additionally, Natural gas consumption is also projected to see substantial growth, with a nearly 60per cent increase (37 bcm/year) by 2030, reaching 103 bcm/year. The City Gas Distribution (CGD) sector, along with heavy industrial and manufacturing sectors, are anticipated to drive this demand. Despite this rising demand, India faces inherent vulnerabilities as over 85per cent of its crude oil needs are met through imports, positioning it as the world's third-largest oil importer. Furthermore, geopolitical instabilities, particularly in crucial chokepoints like the Hormuz Strait and Suez Canal, pose consistent threats to crude supply and pricing. On the price front, Brent crude prices are forecast to decline from an average of USD 81/barrel in 2024 to USD 74/barrel in 2025 and further to USD 66/barrel in 2026. This decline is attributed to a global expansion in petroleum production outside OPEC+ and a more moderate demand growth. Domestically, India's crude oil production is expected to increase over the short term, reaching 48.5 Million Metric Tonnes (MMT) by FY 2026-27, before a projected decline to 45.5 MMT by FY 2029-30 due to maturing oil fields and limited new discoveries. In contrast, natural gas production is anticipated to rise significantly, reaching 54.7 Billion Cubic Meters (BCM) by FY 2029-30.
Hans India
10 hours ago
- Business
- Hans India
Need to safeguard oil and gas supply chains amid geopolitical uncertainties: Report
New Delhi: With India projected to grow at over 6 per cent annually and its primary energy demand increasing at a CAGR of 5.5 per cent, there is an urgent need to safeguard oil and gas supply chains amid rising geopolitical and market uncertainties, according to a report released on Friday. Over 85 per cent of India's crude oil needs are met through imports, positioning the country as the world's third-largest oil importer. 'Geopolitical instability, especially in chokepoints like the Hormuz Strait and Suez Canal, threatens consistent crude supply and pricing,' said the report by the PHD Chamber of Commerce and Industry (PHDCCI). Brent crude prices are forecast to decline from $81 per barrel in 2024 to $66 per barrel in 2026, driven by supply expansion outside OPEC+ and moderate demand growth. 'India's economic growth trajectory demands resilient and diversified energy sources. This report provides an integrated roadmap to navigate future energy challenges while ensuring affordability, accessibility, and sustainability,' said Hemant Jain, PHDCCI President. The industrial sector now consumes approximately 40 per cent of India's total energy, making it the largest single energy-consuming sector in 2023. 'Over past three decades, industrial energy demand has tripled, and industry accounts for approximately 36–38 per cent of final energy consumption,' the report noted. Currently, India' domestic oil and gas production is centred in Assam, Gujarat, Rajasthan, Mumbai High and the Krishna Godavari Basin. Hydrocarbon Exploration and Licensing Policy (HELP) launched in 2016 has simplified approval processes, with attractive fiscal terms, and bolstered licensing and exploration activity. By mid-2024, 144 blocks covering approximately 243 000 km² had been awarded, though international companies have largely avoided participation, favouring other countries with more attractive terms. Offshore production is set to increase thanks to additional supplies from ONGC's deepwater KG-D5 project between 2025 and 2030. However, offshore (and overall) gas supply growth will be tempered by plateauing output from the KG-D6 fields and declining production from legacy assets like ONGC's Mumbai offshore fields. According to recent reports, India may be inching closer to a game-changing offshore oil discovery in the Andaman Sea — one that could hold as much as 184,440 crore litres of crude oil and rival Guyana's transformational find, Union Petroleum and Natural Gas Minister, Hardeep Singh Puri, has hinted. According to projections, India's natural gas production is also expected to rise to 54.7 BCM by FY 2029-30.
Time of India
2 days ago
- Business
- Time of India
Centre extends deadline for revised Schedule M implementation for small, medium pharmas
Mysuru: The Union govt has extended the deadline for implementing the revised Schedule M–Good Manufacturing Practices (GMP)–for small and medium pharmaceutical enterprises (SMEs) with an annual turnover of Rs 250 crore or less, until the end of this year, said Khalid Ahmed Khan, deputy drug controller and president of the Indian Pharmaceutical Association (IPA), Karnataka state branch. He was speaking at the inauguration of a national conference on 'Enhancing Pharmaceutical Quality Assurance through Good Manufacturing Practices (GMP)' and a special session on the Revamped Pharmaceutical Technology Upgradation Assistance Scheme. The event was organised by the PHD Chamber of Commerce and Industry (PHDCCI) health committee in association with the department of pharmaceuticals, Union ministry of chemicals and fertilizers, JSS Academy of Higher Education and Research (JSS AHER) and the IPA Mysuru branch, at the JSS College of Pharmacy on Wednesday. Khan noted that due to the financial burden involved in implementing the revised quality framework, MSME firms were granted time until Dec 2025 to comply. "Firms with turnover above Rs 250 crore, as well as all newly established plants, are required to adopt the revised Schedule M immediately. These guidelines are aligned with WHO and international standards and emphasise total quality management and robust pharmaceutical systems," he added. Khan stressed the importance of leadership and a quality-driven mindset in the pharmaceutical sector. "Even if you're not in a leadership position, you can influence those who are. Without quality, neither the industry nor its workforce can sustain," he said. Dr H Basavana Gowdappa, VC, JSS AHER, commended the department of pharmaceuticals for launching the RPTUAS and urged the industry to treat GMP not as a regulation but a fundamental responsibility. Amaresh Tumbagi, former drug controller of Karnataka, outlined the inspection mechanisms under the revised Schedule M and how regulatory processes have evolved. Dr Pramod Kumar TM, principal, JSS College of Pharmacy, provided insights into current industry regulations and compliance requirements. Jatin Nagpal, joint secretary, PHDCCI, Dharmendra Kumar Yadav, under secretary, department of pharmaceuticals, Yashwant Shinde, manager, SIDBI and Dr Savitha RS, secretary, IPA Mysuru local branch were also present.
Business Standard
4 days ago
- Business
- Business Standard
India's exports to grow robustly and resiliently supported by government continuous efforts: PHDCCI
Indias cumulative total exports (merchandise and services) registered a y-o-y growth of over 5%, increasing from USD 134.6 billion during April-May 2024 to USD 142.4 billion during April-May 2025. This resilient exports growth is driven by positive momentum of 3% in merchandise and 9.1% in services exports during the same period, said Shri Hemant Jain, President, PHDCCI, in a press statement. In May 2025, Indias overall exports (merchandise and services combined) accelerated to USD 71.12 billion, marking a 2.7% increase compared to the same month last year. This growth is driven by high merchandise exports of electronic goods (54.1%), marine products (26.8%), organic and inorganic chemicals (16%), drugs and pharmaceuticals (7.4%), and readymade garments of textiles (11.3%), among others. On the import side, declines were seen in categories such as pulses, transport equipment, fertilizers, crude oil, coal, gold, and vegetable oils , he said. Amid USA trade policy uncertainty, Indias trade relations remained resilient as exports to the USA grew by over 20% during April-May 2025 vis-a-vis April-May 2024. Trade with other major partners also showed promising trends. Exports to Australia surged by over 50%, Oman by 40.9%. China by 18.7%, and the United Arab Emirates by 12.3%, he said. Going ahead, we anticipate exports to grow robustly and resiliently supported by government continuous efforts to diversify the export market and boost Indias exports competitiveness with initiatives like the recent restoration of RoDTEP benefits, he said.
