Dean faculty of management studies, Business school in New Delhi, India

New Delhi [India], March 29 : The energy crisis faced during the ongoing Russia-Ukraine conflict has drawn the world's attention towards the importance of becoming self-reliant in energy needs, said Defence Minister Rajnath Singh on Wednesday.Singh said no matter how big and developed a nation is, if it is not self-reliant for energy needs, then there will be hurdles to its development.Speaking at the agreement signing ceremony and launch of the 7th round of commercial coal mine auction orgsed by the Ministry of Coal in New Delhi, Singh said India is among the world's fastest-growing economies and has become the fifth largest economy in the world.In the future, due to urbsation and industrialisation, Singh said more houses, schools, colleges, hospitals etc will be needed for the people. "Due to the government's farsighted policies, the country has also attracted the attention of foreign compes, and we have emerged as a favourite investment destination of foreign compes," he said.And it going to lead to an unprecedented consumption of energy in the country in future. In view of these needs, the government has placed the energy sector at its highest position. These allocations and auctioning are very important steps in this direction, Singh said.Highlighting the energy crisis that the world has faced due to Ukraine Conflict, the Defence Minister said that it is necessary to far-reaching efforts towards the energy security of the nation. And allocation and auctioning of coal blocks are very important steps to achieve energy security."The usage of coal has its advantages and disadvantages. Today's climate change is a reality and it cannot be ignored. Coal is a polluting fuel but humans are exploring its alternative constantly. Many countries are requesting other nations to avoid using coal, and all of sudden developed countries are raising concerns about the environment. It is not a concern but it is climate hypocrisy," he said.India's per capita carbon emission has been much less as compared to other countries since the beginning, Singh noted.The thing to note about auctioning commercial coal mining is that for the first time in the last several decades, the public and private sectors have been brought together on a platform, the Defence minister said, adding that by opening coal mining for commercial use by the private sector, the government has shown its trust in the private sector and has given it a chance to the industry to prove itself. The private sector is progressing step by step with the government in many areas, he added."In the last eight to nine years, the government has encouraged private players and given them an opportunity to come forward in sectors like defence, which were considered completely untouched for private players, have also been opened for them today with equal opportunities. After ensuring participation in coal mining, private compes will move towards discharging their role in strengthening both the country's energy security and economy," added Singh.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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