Is India Ready to Ditch Energy Imports? Read on to know!

At a time when global energy dynamics are shifting rapidly and sustainability narratives dominate international discourse, India is setting the stage for a seismic transformation in its energy story—one rooted in self-reliance, scientific exploration, and big-ticket investment potential.

In a major announcement that could redefine India's energy roadmap, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri unveiled a multi-pronged push for domestic hydrocarbon exploration, signaling not just a policy change but a deeper strategic pivot toward energy independence.

India Ready to Say GoodBye to Energy Import?

India, a rapidly growing economy and one of the world’s most energy-hungry nations, currently imports a staggering 88% of its crude oil and 50% of its natural gas needs. This over-dependence on foreign oil not only strains the exchequer but also exposes the country to global geopolitical shocks.

But change is on the horizon.

“The time for action is now. We are building a resilient and future-ready energy ecosystem,” declared Puri during the Open Acreage Licensing Policy (OALP) Round-IX and Special Discovered Small Field (DSF) signing ceremony earlier this week.

His message was loud and clear—India is no longer content being a passive consumer in the global energy game. It wants to drill deeper, explore more, and extract its own resources to meet the needs of its 1.4 billion-strong population.

From "No-Go" to "Let's Go"

In what experts are calling a landmark shift, India has not only intensified its upstream reform efforts but also made major strides in removing long-standing barriers. Areas once marked as "No-Go Zones" in the Exclusive Economic Zone (EEZ) have now been almost entirely opened up for exploration—a bold move that signals confidence and ambition.

Between 2006 and 2016, exploration activity in India had stagnated. But since 2014, the momentum has clearly returned. The government has successfully increased sedimentary basin coverage to 10% of the Indian landmass, and it’s not stopping there. By 2030, the aim is to hit 15% coverage, creating more opportunities for discovery and extraction.

OALP Round-IX: A Bigger, Bolder Bet

As part of this energy push, OALP Round-IX saw the allocation of 28 exploration blocks covering 1.36 lakh square kilometres across eight sedimentary basins. A significant chunk—38%—of these blocks lie in regions that were previously considered restricted or difficult to access.

In parallel, two additional blocks were awarded under the Special DSF Round, which received 60 bids in total, reflecting strong investor interest and a growing appetite for domestic exploration opportunities.

What’s next? OALP Round-X, which will be launched during India Energy Week 2025. This next round is expected to further expand the horizon for oil and gas players looking to invest in India's exploration and production landscape.

Science, Data, and Innovation at the Core

What sets this new wave of energy exploration apart is its foundation on scientific and data-driven exploration. The government has already pumped in Rs 7,500 crore for seismic data acquisition and basin surveys—a move that reflects seriousness and precision in resource identification.

Such scientific investment not only enhances the chances of successful exploration but also signals to potential investors—both domestic and global—that India means business.

A New Spotlight on Coal Bed Methane (CBM)

While oil and conventional gas remain critical, the government is also turning its gaze toward unconventional resources like Coal Bed Methane (CBM). With 15 CBM blocks already active, India is now preparing to launch a new initiative—Special CBM 2025.

This will offer three new blocks: two in West Bengal and one in Gujarat, with the potential to unlock 34 Billion Cubic Metres (BCM) of methane gas trapped within coal seams.

To put it into perspective, India is sitting on an estimated 2,600 BCM of CBM reserves—a resource that, if effectively harnessed, could significantly alter the nation’s energy mix.

A USD 100 Billion Opportunity

Minister Puri was candid about the economic scope of this venture. The exploration and production (E&P) sector in India holds an investment potential of over USD 100 billion by 2030. This opens a massive door for startups, tech innovators, equipment manufacturers, and green-tech enablers to plug into the energy value chain.

For the Indian startup ecosystem, especially those working at the intersection of cleantech, geospatial data, energy analytics, and AI-driven exploration tools, this could be the perfect moment to step into the energy arena.

In line with fostering a transparent and inclusive ecosystem, the government has also rolled out the PNG Rules Public Consultation Portal. The idea is to bring stakeholders—industry, investors, regulators, and the public—into the decision-making process, setting the stage for policy clarity and investor confidence.

India’s current energy shift is not just a policy upgrade—it’s a strategic necessity. As the country prepares to contribute 25% of the world’s incremental energy demand over the next two decades, relying solely on imports is no longer a viable path.

This is India’s moment to tap into its own reservoirs, build capacity, generate employment, and fuel its industries with homegrown resources. And while it may not be an overnight change, every exploration block awarded, every survey completed, and every unconventional well drilled brings the country one step closer to true energy self-sufficiency.

As the dust settles on the signing ceremony, one thing is evident—India isn’t just digging for oil and gas. It’s drilling a deeper narrative of self-reliance, opportunity, and innovation.