Indo Petroleum Marketing or IPM is a Delhi-based start-up company that has been granted transportation fuel retail marketing authorization by the Ministry of Petroleum and Natural Gas (‘Ministry’) under its revised policy for grant of Transportation Fuel Marketing Authorization to private entities (including start-ups) as per its Resolution No P-12029(11)/2/2018-OMC-PNG dated 8th November, 2019. The said revised policy was framed by the Ministry to realize the objectives of the flagship ‘Start-Up India’ initiative of our Hon’ble Prime Minister, Shri Narendra Modi with the stated intention “to catalyse start-up culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India”.
First Start-up OMC: This marketing authorization grants Oil Marketing Company (OMC) status to IPM like the other OMCs such as Indian Oil, Bharat Petroleum, Hindustan Petroleum and private sector OMCs like Reliance, Nayara and Shell. IPM will set up retail outlets (petrol pumps) across the country to undertake fuel retailing. In the first phase, the Ministry has allowed IPM to set up 100 outlets within 5 years. In fact, IPM is the first Ministry-authorized start-up private OMC to commence operations on the ground. Refuel…recharge…refresh: With its tagline of ‘refuel…recharge…refresh’, IPM proposes to be like a ‘breath of fresh air’ in the oil marketing sector. All IPM retail outlets will have facilities for fuel sales, one new-age, environment friendly ‘green fuel option’ like CNG or Bio Diesel and/or electric vehicle ‘battery management’ options. Apart from fuel/energy options, the IPM outlets are proposed to be equipped with customer convenience options so that a visit to the IPM outlet is expected to rejuvenate both man and machine. In fact, all IPM outlets will offer hitherto unexperienced levels of technology and innovations-driven customer experience.
IPM has on board experienced oil sector professionals, with very deep experience in fuel retailing, both outlet-level, hand-on experience as well at strategic marketing and business development experience at the senior OMC level. In addition, IPM promoters have extensive business experience in the hospitality sector and in technology. A number of notable ‘firsts’ for Assam: Pursuant to the above policy initiative, Assam’s Numaligarh Refineries Limited (NRL) is the first oil supplier in the country to proactively sign Fuel Sale/Purchase Agreement for supply of fuel to such newly approved private OMCs. Also, Assam has been the first state in the country that has proactively propagated the message regarding creation of such private OMCs at the district level and advised the districts to look into the possibility of making available suitable government sites for retail outlet development by such private OMCs. Third, IPM is the first private-sector OMC to commence its pan-India operations from the state of Assam. The land of the red river and blue hills: IPM looks forward to commencement of its journey from the ‘thriving hub’ for industry, logistics and infrastructure that is Assam today. Apart from outlets at prominent locations, IPM will also fulfil its ‘remote area’ obligation by setting up outlets in remote areas of Assam, thereby providing infrastructural and logistical boost, promoting entrepreneurship development (including focus on women entrepreneurs) and generating direct and indirect employment. With the help and guidance at the government level, cooperation from other agencies and the good wishes of the people of Assam, we step forward with hope. So “Dil hum hum kare”….yes, with excitement and anticipation, but “ghabraye”…definitely not, for we have started our journey from the sacred land of Maa Kamakhya.
