Energy supermajor BP Plc has plans to enhance its presence in India’s fuel retailing and mobility solutions. Joining hands with Reliance Industries Ltd, the company said in the next 4-5 years, it plans to set up 5,500 retail sites in the country (from 1,400 currently) which will sell petrol, diesel and offer mobility solutions like EV charging facility.
“India is an extraordinary country with an extraordinary history, an extraordinary group of people, and with extraordinary ambition,” noted BP Group chief executive Bernard Looney. He also added that India will emerge as the fastest-growing fuel and lubricant market in the next 20 years. He added that around 80,000 jobs will be created in the country as a result of this expansion.
However, the company said that it wanted natural gas to be included in the GST regime. He added that its too early to predict the impact of COVID-19 on oil demand.
Stay ahead in the dynamic world of trade and commerce with India Business & Trade's weekly newsletter.