Vedanta Group Chairman Anil Agarwal has sharply criticized global reluctance to see India as a producer, asserting that the world prefers it solely as a consumer market. Speaking amid rising geopolitical tensions, he emphasized the need for domestic manufacturing and energy independence to generate jobs and reduce vulnerabilities.
India imports nearly 90% of its oil and gas, leaving it exposed to supply disruptions, especially with sea routes on three sides prone to blockades in crises. Agarwal drew parallels to India’s Green Revolution, which transformed food import dependence into self-sufficiency through government-led initiatives, calling for a similar push in hydrocarbons. He highlighted India’s vast resources—over 300 billion barrels equivalent—and talent pool, including 10% of global oil and gas experts, urging a shift from regulation to facilitation for exploration.
Currently, only 20 active licenses exist versus a needed 2,000, stifling potential to produce at half import costs. Citing the US model of entrepreneurial drilling, Agarwal envisions thousands of rigs, startups investing ₹5 crore via leasing, and tenfold production growth to meet rising demand over two decades. As nations secure resources, he warned India must act swiftly to harness its subsurface wealth and build a stable environment for investors, avoiding bureaucratic hurdles that deter progress.
