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.)