Freeing natural gas prices might raise some concerns, but will help in building an energy-efficient economy
What oil was for the 20th century, natural gas will be for the 21st century. These are the words of Vijay Kelkar, chairman of the 13th Finance Commission and a former petroleum secretary. This sums up the reason why India wants to move to a gas-based economy, a cleaner fuel that has been gaining share the world over. But there’s one hurdle to that transformation: Producers here can’t sell gas at a price determined by the market.
(This story appears in the 25 September, 2009 issue of Forbes India. To visit our Archives, click here.)