India’s dependence on imported crude oil to meet domestic demand has been a matter of concern for years. Delivering the inaugural address at the global energy summit — Urja Sangam — in 2015, Prime Minister Narendra Modi had called for enhancing domestic oil and gas production to cut the import burden.
He aimed at lowering it by at least 10 per cent by 2022 — to coincide with the platinum jubilee of India’s independence. But this target is far from being achieved and the country’s import reliance has only risen. ...
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