India Bolsters Energy Resilience Amid Global Disruptions

India's energy resilience has improved significantly to withstand external shocks, according to Petroleum and Natural Gas Minister Hardeep Singh Puri. Speaking at the CII International Energy Conference and Exhibition in New Delhi, Puri emphasized that India is better equipped to deal with geopolitical disruptions than ever before.

The minister attributed this improvement to diversifying crude oil supplies, expanding strategic infrastructure, and investing in domestic exploration. This has enabled India to shield consumers from major external shocks, backed by diversified crude sourcing, expanded energy infrastructure, trusted international partnerships, strategic reserves, and the growing use of alternative fuels.

Puri highlighted the government's recent approval of the Rs 84,000-crore Samudra Manthan scheme, which is one of the world's largest state-backed initiatives to accelerate deepwater oil and gas exploration. The programme aims to attract global expertise and investment into India's offshore sector by supporting up to 50% of drilling costs for private companies.

India's energy demand will continue to rise, with nearly 30% of the increase in global oil demand expected between 2030 and 2050. This underscores the country's growing importance in global energy markets, said Puri.