‘No-go’ to ‘go-ahead’: PM Modi hails ‘Samudra Manthan' for deep-sea exploration
To speed up offshore exploration, the government approved Samudra Manthan – the National Offshore Exploration Scheme on July 31, 2026. The scheme has been allocated Rs 84,084 crore for Phase I, covering the period up to FY2030-31.
Prime Minister Narendra Modi celebrated India's "Samudra Manthan" initiative, which has transformed nearly all of the country's coastal waters from "no-go" to "go-ahead" areas for deep-sea exploration. This strategy aims to identify new mineral reserves, particularly hydrocarbons, which are of critical importance given India's status as the world's third-largest consumer of crude oil, with an annual import bill of around $144 billion.
Recent global oil and gas supply disruptions have highlighted the need for domestic production to meet the demands of India's burgeoning economy. On the 80th Independence Day, PM Modi praised the government's decision to allocate Rs 84,084 crore for Phase I of the National Offshore Exploration Scheme, covering the period up to FY2030-31.
By altering the previous approach, which had deemed many coastal areas unsuitable for exploration, the government has now opened up these zones as opportunities for offshore exploration and the discovery of new reserves.
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