PM Modi Says India Must Cut Crude Oil Dependence, Opens Offshore Areas For Exploration
Prime Minister Narendra Modi has called for greater domestic resource exploration and energy self-reliance, arguing that India’s dependence on imported crude oil is partly linked to past limitations in exploring its own natural resources. Addressing the nation from the Red Fort on Independence Day, Modi said countries can be constrained not only by a shortage of resources but also by the way they…
India's Prime Minister, Narendra Modi, has emphasized the need for the country to reduce its dependence on imported crude oil, marking a major step towards energy self-reliance. Addressing the nation from the historic Red Fort on Independence Day, Modi highlighted the government's decision to open up offshore areas for exploration, reversing the previous policy of classifying nearly 99% of its offshore territory as "no-go areas".
This move is part of India's broader strategy to strengthen its energy security and reduce reliance on foreign oil sources.
The Prime Minister also announced various initiatives aimed at boosting alternative energy sources, including nuclear power, solar energy, and piped gas. India is targeting the generation of 200 GW of nuclear energy and is currently working on five new nuclear reactors. Additionally, the government has expanded the distribution of piped gas across the country, with the number of locations offering piped gas increasing from around 70 before 2014 to approximately 700 today.
This expansion has boosted household access to piped gas, with the government aiming to connect nearly 1.75 crore households, up from around 20-22 lakh households earlier.
Modi also underscored the rapid growth in solar power, noting that India's solar capacity has surged from around 2 GW a decade ago to 160 GW. More than 50 lakh households are now powered by solar energy, illustrating the country's commitment to clean and sustainable energy. Furthermore, Modi highlighted efforts to enhance India's status as a supplier of critical minerals and semiconductors, with three major plants already operational and potentially five to eight more set to begin operations within the next seven to eight years.
In line with India's ambitious goal of becoming a developed nation by 2047, Modi reiterated his call for citizens to support domestic products through the "Vocal for Local" campaign. By increasing reliance on Indian-made goods, the government aims to bolster the nation's push for self-reliance across various sectors, including energy, minerals, and technology.
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