News Brief | December 2014
Panel to work out incentives for industry
The Petroleum Ministry has said its committee on boosting local manufacturing in the oil and gas sector will work out suitable incentives for the industry, after identifying reasons for low investment levels. The move is a part of the ´Make in India´campaign launched by Prime Minister Narendra Modi. The committee, headed by the ministry´s additional secretary, Rajive Kumar, ´will assess reasons for relatively lower levels of investment in the manufacturing sector in the oil and gas industry, compulsions for imports and market potential for fabricated materials´, the ministry said in its communication to the panel members.