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India ranks poorly in E&P investment destination study-IV: What needs to be done
Dec 12:   It is necessary for the petroleum ministry to take such international surveys seriously. 
8For one, such surveys are conducted independently and they even out the biases. In that sense, the results are truly reflective of how the world views India with respect to other countries.
8It is not to be forgotten that investment is a fungible commodity and it can move anywhere in the world. So in the total global aggregation of E&P investments, a poor perception index will mean a lesser flow of investments in comparison to a country with a higher index.
8After all, every investor is looking at a good asset to park his money in order to get a good return on investment and such perception surveys have a big impact on the investor.
8If China is higher up, more money will flow there than here.
8If Pakistan is above India, that could well mean that given a choice between the two countries, funds will flow to Pakistan than India.
8It is true that it is not perception alone that determines investments, there are other factors too and here again, India scores badly.
8This has however been a legacy issue and the Modi government cannot be blamed for it The petroleum ministry in particular can only do so much and no more and the poor overall perception is a systemic problem rather than a specific ministry related issue.
8But what this government can do is to appoint a consultant for a survey of oil and gas and attendant regulations globally and then investigate where India falters when compared to the others. The DGH has done such a survey on E&P regulations taking a few specific countries into account but it was done in a ham handed and piecemeal manner. A broader and a deeper survey is needed for a better internal understanding of what we are doing and how we can do it better.
8And then perhaps it will be possible to isolate the problem areas and see if they can be resolved.
8While India has moved ahead with new oil and gas policy frameworks, is that enough in itself or more needs to be done?
8The survey is unequivocal in its answer to the question: Much more needs to be done before it can be said with confidence that enough has been done.
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