Ambani feud hurting global investors' confidence in India

The gas dispute between the Ambani brothers is hurting global investors' confidence in India, says an industry report, urging the government to set priorities for the usage of gas and the pricing to prevail.

The report in a US-based monthly magazine Energy Tribune says the Indian government owns the natural gas resources at stake in the Ambani dispute.

"The government-set price must prevail to continue to provide an attractive domestic business environment, increase domestic energy supply and strengthen global energy security," Energy Tribune editor-in-chief Michael J Economides said in the report.

Anil Ambani is seeking to enforce a family agreement that gives his group firm RNRL natural gas from elder brother Mukesh Ambani-run RIL at USD 2.34 per mmBtu, 44 per cent lower than the government approved rates. The case is now in the Supreme Court.