India's Energy Sector Needs Urgent Reforms Amidst Gulf Crisis
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Gulf Crisis: India Must Urgently Reform Its Energy Sector
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Firstpost•20-03-2026, 17:29
Gulf Crisis: India Must Urgently Reform Its Energy Sector
•India's high dependence on imported crude oil (87-89%) highlights its vulnerability amidst global instability, despite being a major refiner.
•Decades of policy inertia, geological underperformance, and hesitant reforms have led to stagnant domestic oil production despite surging demand.
•Restrictive policies, complex contractual frameworks, and insufficient incentives deter foreign investment in India's under-explored sedimentary basins.
•China's multi-pronged strategy of domestic exploration, overseas asset acquisition, and energy diversification offers a model for India.
•Urgent reforms needed include liberalizing the upstream sector, aggressive exploration, encouraging foreign participation, acquiring overseas assets, prioritizing natural gas, and accelerating alternative energy transition.
