This industry influences decision making for other major industries as well. The government of India has allowed 100 percent FDI in many segments of this industry including petroleum products, natural gas, refineries etc. Major developments have taken place in the oil and gas sector owing to India’s large energy needs and the greater prospects anticipated by foreign companies. This sector ensures great opportunities in near future.
Coal is India’s largest commercial source of primary energy. The recent update on the coal mining sector is the green signal by coal ministry for introduction of private entities into commercial coal mining which is aimed at enhancing domestic production and generate additional revenue for coal- bearing states. Despite latest trends encouraging usage of different modes of energy, in the present Indian context, the importance of coal as a fuel or power resource cannot be underestimated.
The agriculture industry plays a pivotal role in India’s economy. There have been favourable policies and decisions by the government for promotion of innovation and development in this industry. This area has attracted a huge amount of foreign direct investment and also the recent international tie ups and agreements would lead to some major rise in the agriculture GDP contribution. In the 2017-18 budget, the government has planned several policies and proposed major initiatives for the sustainable development of agriculture. This industry exposes umpteen opportunities for start-ups.
