Energy sector needs Rs 480,000 crore: CII

New Delhi: The country’s power and upstream energy sectors need investments of around Rs 480,000 crore to Rs 600,000 crore ($120-150 billion) in the next five years, according to a report jointly released by the CII and KPMG.

The report — ‘India Energy Inc – Emerging Opportunities & Challenges’ — emphasises the need for strong private sector participation to complement public sector and to bring in the required capabilities and technologies.

According to the report, the Indian energy sector is attracting investment in diverse streams, which is driven by a surging economy and the resulting demand-supply gap in the short run and by the need to achieve sustainability and self-sufficiency in the long run.