In an interview with ET Now at Davos , CEO,, says under Prime Minister Modi, we have seen a great deal of enthusiasm and we are making big commitments to invest billions of dollars now.Edited excerpts:I have had the opportunity to meet him many times and heard about his thoughts on changing the energy, systems in India and also playing a bigger role. So, this is not new for me and I think it is absolutely appropriate for a country like India that is growing so fast with a young population full of great potential. It is good for the world.I absolutely have. We have a great partner in India with Reliance. Some of the developments that we were going to do are in natural gas , which India needs very much. We are slower than I was hoping but under Prime Minister Modi, I have seen a very big change. I see the enthusiasm and encouragement for it so it feels easier and we are making big commitments to invest billions of dollars now.They absolutely are. The idea that gas is important gaining ground, gives us confidence to develop those R series natural gas fields. We will see big investments going in, leading to new natural gas production in 2020. At BP, we are really careful where we invest our money. So, I am very enthusiastic about it.We have had this since a long time for example with Castrol lubricants. We do some of our computer work on extensive scale there but it is the upstream and the encouragement of natural gas, clean energy is making it economic. My view is India should produce every molecule it has of its natural gas resources and oil. The market pricing of resources in natural gas makes a huge difference. Without that, we would not be able to develop these fields.There has been a change in the formula that makes it more market linked and the projects now are economic. If they completely led to economic world market prices, then you would see even more resources developed in India. So, you can do more but this is enough to make them economic?We have got a very good relationship with with our partner Reliance. They have got great skills. We have got marketing skills come together and bring the new world with new mobility, fast charging electric vehicles etc.There is a lot of prospects for that and the government was good enough to give us licenses to retail two years ago. I think the stage is set.What Reliance has done with Jio is amazing. It will transform many types of businesses not only in oil and gas but also retailing and other things that they are involved with. The work that we do as BP with big data processing big data in the upstream and being able to format it and make decisions faster, All these things are coming together. We can transform our industry and be part of this sweeping change across the world with technology.We see the market working here. The prices are a little higher than I expected, stock levels are coming down. The lower dollar actually adds to the price and there is probably some geopolitical tension getting built into this but in response to these prices, the US will increase its production. It will be like a shock absorber on the upside and there is probably abandon here. This is good for the world for oil prices, for producers and consumers and we could see the oil prices this year at $55-60. We are not going to be euphoric about these prices. As an industry, we must learn our lessons and keep our capital discipline and cost discipline.Well I really do not unless there is some geopolitical event and that would probably be a short-lived event and I do not expect that to happen either. So we are planning our world in the $50-65 band going to the end of the decade.50% is still a lot. We have a lot of oil production around the world in gas. Gas is a clean burning fuel that is going to be a trend in the world for what the world needs to reduce emissions and gas is such a clean fuel. It is good. It is good for India. It is good for many places. But we will look a balance to we have to maintain the economics of that. We are also investing in renewable businesses on a sizable scale. It is all about balance and you have to have a strategy that can move with the directions of the world.Electrical vehicles actually means different things to different people. I looked at the figures the other day and of course it is conventional vehicles…Well it seems like and how you define it. Some electric vehicles are high plug-in hybrids that have two drive chains that include trains; it includes liquid fuel as well. So, they will be around a lot for a long time and then the 50% pure plug-ins will come but the efficiencies of conventional internal combustion engines are going down very, very fast.