NITI Aayog Member Rajiv Gauba today highlighted the critical role of regulation, market-oriented reforms and institutional capacity in strengthening India’s energy security and supporting the country’s journey towards Viksit Bharat at 2047. He noted that the petroleum and natural gas sector operates in an increasingly complex global environment, marked by geopolitical tensions, supply disruptions, and heightened energy-security risks.
He said that the creation of PNGRB in 2006 was an important institutional step to ensure fair competition, investor confidence and protect consumer interests. He highlighted PNGRB’s contribution to building the regulatory architecture for natural gas pipelines and noted that its common carrier and contract carrier principles have helped ensure open access to pipeline infrastructure, facilitating greater competition in the downstream market. Mr Gauba emphasised that such regulatory work, while often not visible, is essential for creating predictable markets, building investor confidence and strengthening public trust.
Mr Gauba underlined that India’s growing energy requirements make diversification and expansion of domestic energy capacity important elements of the country’s long-term strategy. He also emphasised the importance of accelerating India’s transition towards a gas-based economy.
