India emerges as key market for LNG, ranks fourth globally in 2024: TotalEnergies CEO
Patrick Pouyanne
, Chairman and CEO of TotalEnergies.
He made these remarks during an exclusive conversation with in Paris, France.
Pouyanne shared insights into the French energy giant's expanding presence in India, highlighting that TotalEnergies has invested nearly USD 5 billion in the country over the last five years.
He said, "India is becoming an important market for LNG, number four in the world in 2024. So developing this gas for us, finding customers, long-term customers in India is good".
These investments span across gas, natural gas imports, city gas distribution, development of gas infrastructure, as well as renewable energy projects such as solar and wind.
"We have invested almost USD 5 billion in the last five years, in particular in gas, natural gas, importing energy, city gas, development of gas infrastructure in India, as well as renewables. We invest a lot in solar and wind in India," Pouyanne said.
Responding to a question about the progress on the MoU signed during India Energy Week with GSPC (Gujarat State Petroleum Corporation) venture in India, Pouyanne said, "It's going very well. We have signed some contracts in the last year for providing energy to India. GSPC is one, IOCL is another. These are long-term, 10-year contracts."
He added that the MoU would be converted into a Sales and Purchase Framework (SPF) soon, marking a significant step in strengthening the LNG supply chain to India.
He also spoke about his meeting with Union Commerce Minister Piyush Goyal, who encouraged the company to expand its operations further in India.
He said, "We discussed TotalEnergies' investments in India....And so we discussed our plans, what we've done and what we intend to do for the future. And of course, Mr. Goyal encouraged me to do more in India".
The meeting took place in Paris during Goyal's official visit to France, which is part of his ongoing trip to France and Italy from June 1 to 5.
Goyal is also scheduled to meet with key French ministers, including Minister of Economy Eric Lombard and Trade Minister Laurent Saint-Martin.
The developments highlight India's growing role in the global energy market and its strong partnership with global energy players like TotalEnergies. (ANI)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
an hour ago
- Mint
Big believer in law of land, customer-centricity: Amazon India head on regulatory gaze over online platforms
New Delhi, Aug 17 (PTI) Amid a growing regulatory scrutiny on online platforms, Amazon India head Samir Kumar has asserted that the e-commerce company is a "big believer" in customer-centricity and adherence to local laws, and is fully prepared to address any findings and ensure consumers remain well supported. The comment comes at a time when there is rising regulatory glare on online companies. The Central Consumer Protection Authority (CCPA) had issued an advisory to e-commerce platforms to conduct self-audits to detect 'dark patterns' and ensure they are swiftly eliminated. The self-declarations by the platforms will enable fair digital ecosystem along with building trust between consumers and e-commerce platforms, CCPA had said in June. On how the company views and responds to the regulatory scrutiny in the market, Kumar told PTI that Amazon has always prioritised customer focus. "So we have always believed that first of all, whatever we do, we should make sure that the customers love it. So that's my take on there will always be some of these things that will come our way in terms of making sure here are things that you should be doing, and we'll go and audit our systems and make sure we are doing all the right things," he said. Kumar added: "We always have believed that we put customers front-and-centre of everything, and when we see issues with our customer experience, we go and spend all our energy in fixing that, and we'll continue to do that in future." Asked if the company believes that the regulatory lens from authorities such as CCPA or CCI signal a vibrant, expanding market, Kumar emphasised that Amazon is firmly committed to abiding by the country's laws. "We are a big believer in complying with the law of the land, we have always made sure that wherever we operate, we operate in a compliant way. "So that way, whether it's Competition Commission or CCPA, all those bodies are making sure that Indian consumers are not hurt, and we are a big believer in making sure that we take care of our customers," he said. He emphasised that Amazon is fully prepared to address any findings and ensure customers remain well supported. "So I am more than happy to make sure that whatever the finding is, we address them and we take care of our customers," Kumar said. India is expected to be one of the biggest contributors to Amazon's growth in the long run, with the e-commerce giant doubling down on its focus in this market where it is pouring in billions of dollars in long-term investments. India is still not as deeply penetrated in terms of online consumption and therefore presents a "very large opportunity" for Amazon, according to Kumar - who is now helming operations here as Country Manager of Amazon India. Amazon has committed to significant investment in its India infrastructure, about ₹ 2,000 crore for 2025 alone. It had previously outlined a broader investment pledge of USD 26 billion by 2030, close to about USD 15 billion of it between 2023 and 2030. Kumar said India is among the fastest growing markets for the company. "And we are a big believer that in the long run, India will be one of the biggest contributors to our growth," Kumar said but did not give a timeframe. India is still not deeply penetrated in terms of consumption, he said, adding while users are online, buying products and watching videos there is a huge headroom for growth when it comes to online shoppers. "...not everyone is shopping online. If you look at just mobile phone penetration, maybe it's in close to a billion people who have mobile phones, but only 100 million plus of them are shopping online. So the next 200 million (that the company is aspiring to reach) are going to be part of that," he said. Kumar believes that as the economy grows, and so does consumption, and as GDP per capita rises, India is poised to have "many more consumers who will value the convenience of shopping online". "We have seen this phenomenon around the world. So we have a very large opportunity still remaining in India... We have 1.4 billion people," he said. The company has set its sights on what Kumar describes as a broader 'Bharat' living in tier 2, 3 cities and beyond.
Time of India
2 hours ago
- Time of India
Big believer in law of land, customer-centricity: Amazon India head on regulatory gaze over online platforms
Advt Advt Amid a growing regulatory scrutiny on online platforms, Amazon India head Samir Kumar has asserted that the e-commerce company is a "big believer" in customer-centricity and adherence to local laws, and is fully prepared to address any findings and ensure consumers remain well comment comes at a time when there is rising regulatory glare on online companies. The Central Consumer Protection Authority (CCPA) had issued an advisory to e-commerce platforms to conduct self-audits to detect 'dark patterns' and ensure they are swiftly eliminated. The self-declarations by the platforms will enable fair digital ecosystem along with building trust between consumers and e-commerce platforms, CCPA had said in how the company views and responds to the regulatory scrutiny in the market, Kumar told PTI that Amazon has always prioritised customer focus."So we have always believed that first of all, whatever we do, we should make sure that the customers love it. So that's my take on there will always be some of these things that will come our way in terms of making sure here are things that you should be doing, and we'll go and audit our systems and make sure we are doing all the right things," he added: "We always have believed that we put customers front-and-centre of everything, and when we see issues with our customer experience, we go and spend all our energy in fixing that, and we'll continue to do that in future."Asked if the company believes that the regulatory lens from authorities such as CCPA or CCI signal a vibrant, expanding market, Kumar emphasised that Amazon is firmly committed to abiding by the country's laws."We are a big believer in complying with the law of the land, we have always made sure that wherever we operate, we operate in a compliant way."So that way, whether it's Competition Commission or CCPA, all those bodies are making sure that Indian consumers are not hurt, and we are a big believer in making sure that we take care of our customers," he emphasised that Amazon is fully prepared to address any findings and ensure customers remain well supported."So I am more than happy to make sure that whatever the finding is, we address them and we take care of our customers," Kumar is expected to be one of the biggest contributors to Amazon's growth in the long run, with the e-commerce giant doubling down on its focus in this market where it is pouring in billions of dollars in long-term is still not as deeply penetrated in terms of online consumption and therefore presents a "very large opportunity" for Amazon, according to Kumar - who is now helming operations here as Country Manager of Amazon has committed to significant investment in its India infrastructure, about Rs 2,000 crore for 2025 alone. It had previously outlined a broader investment pledge of USD 26 billion by 2030, close to about USD 15 billion of it between 2023 and said India is among the fastest growing markets for the company."And we are a big believer that in the long run, India will be one of the biggest contributors to our growth," Kumar said but did not give a is still not deeply penetrated in terms of consumption, he said, adding while users are online, buying products and watching videos there is a huge headroom for growth when it comes to online shoppers."...not everyone is shopping online. If you look at just mobile phone penetration, maybe it's in close to a billion people who have mobile phones, but only 100 million plus of them are shopping online. So the next 200 million (that the company is aspiring to reach) are going to be part of that," he believes that as the economy grows, and so does consumption, and as GDP per capita rises, India is poised to have "many more consumers who will value the convenience of shopping online"."We have seen this phenomenon around the world. So we have a very large opportunity still remaining in India... We have 1.4 billion people," he company has set its sights on what Kumar describes as a broader 'Bharat' living in tier 2, 3 cities and beyond."Let's take a good chunk of that and make sure that they are able to come online, shop online, get the best value, and get the fastest delivery possible. And with that, I believe there's a big opportunity. So beyond the tier one cities, there's a huge opportunity in 'Bharat', which is like tier 2, 3 cities, where we are seeing very deep penetration now starting to happen," he said.
News18
2 hours ago
- News18
Experts have mixed opinions about impact of US tariffs on job market
Mumbai, Aug 17 (PTI) The steep tariff imposed on Indian exports to the US has evoked concerns among staffing experts with some of them warning of an immediate jobs crisis while others believe India's domestic demand and trade diversification will help cushion the impact. 'The recent imposition of additional US tariffs is expected to have a direct and substantial impact on India's employment landscape. This will especially impact those industries relying heavily on the US market for business continuity and growth," workforce solutions and HR services provider Genius HRTech founder, chairman and managing director R P Yadav told PTI. Sectors like textiles, auto components, agriculture, and gems and jewellery are the most vulnerable, with MSMEs bearing the brunt, said Yadav. He estimates that 2,00,000 to 3,00,000 jobs are at immediate risk, with textiles alone, which is labour-intensive, potentially losing 1,00,000 jobs, if the tariff regime continues beyond the next six months. 'Similarly, in the gem and jewellery sector, including units in Surat and SEEPZ in Mumbai, thousands of jobs are at risk due to reduced demand and cost escalation in the US market," he added. However, TeamLease Services Senior Vice President Balasubramanian Anantha Narayanan does not see the possibility of job losses, saying India is largely a domestic consumption-driven economy, unlike China. 'At this point in time, we aren't seeing any signs of a slowdown or loss of jobs. This also by extension means that our jobs are largely in service of domestic demand too, with the exception of some sectors like ITeS among others. Our exports to the USA are USD 87 billion, which is roughly about 2.2 per cent of our overall GDP. Largely pharma, electronics etc. won't be affected for now, which will further limit the export exposure to industries such as textiles, gems and jewellery among others," he said. Moreover, these tariffs come into effect later this month, and some negotiations are likely to happen before that, he added. 'On the other side, we've also had several positives by way of the recently closed FTA with the UK and other countries. Even if these US tariffs do come about, we'll definitely figure out a way of redirecting or diversifying our trade to other markets. Therefore, at this point in time, we aren't seeing any signs of a slowdown or loss of jobs. It's an evolving situation and we'll get to know more in due course of time," he said. The slowdown in jobs growth is much more due to the overall slowdown in global demand and consumption, uncertainty around tariffs, and geopolitical conflicts in various parts of the globe, he added. Meanwhile, CIEL HR MD and CEO Aditya Mishra said the US tariff scenario is unsettling for Indian exporters, especially in sectors that are heavily dependent on the American market, such as electronics, textiles, gems and jewellery, auto components, leather, footwear, shrimp, and engineering goods. 'Even industries outside the direct tariff ambit, like pharmaceuticals, are feeling the ripple effect through costlier upstream chemicals and materials," he noted. However, as negotiations are expected, this phase of uncertainty may persist through the third quarter of this financial year, said Mishra. 'While widespread layoffs appear unlikely at this stage, companies are already in cost-containment mode, reducing discretionary spending, streamlining production, and freezing hiring. The immediate pressure will be on temporary and contract roles, particularly shop-floor workers, artisans, sales and logistics staff, and some mid-level managers in export-led units. This will have a cascading effect on thousands of MSMEs in the supply chain, which collectively account for a large share of employment," he added. This situation might also indirectly affect sectors like IT and GCCs, he said, adding that the IT sector is already experiencing slow spending and hiring, and this additional uncertainty could delay its recovery further. 'GCCs (global capability centres) are likely to take a cautious approach to hiring and investments until there is greater clarity on trade negotiations and market stability. If the tariff situation persists, India's market share in the US could shrink, leading to longer-term repercussions for exporters and the industries that depend on them," he added. PTI SM HVA (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: August 17, 2025, 15:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
