Speaking at the launch of International Energy Agency's special 'India Energy Outlook' report, he said the government is determined to provide universal access to reliable and affordable energy to all sections of people.

"We are keen to make India's oil and gas sector fair, transparent and attractive for domestic and foreign investors through appropriate policy, regulatory and fiscal interventions," he said.

India's rapidly rising energy stature globally is well-deserved, Pradhan said, adding that with a large economy, growing population with low per capita energy consumption, an expanding middle-class and increasing urbanisation, there is only one way for India's energy demands to go -- that is up.

Pradhan cited IEA's World Energy Outlook 2015 states that by 2040 India's energy demand will be close to that of the United States, even though demand per capita will still remain 40 percent below the world average.

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