Indian billionaire Anil Agarwal said it is critically important for every large nation to secure energy independence warning that India’s heavy reliance on imported oil and gas leaves it strategically vulnerable and flagged the need to ramp-up exploration in the country, pointing to the lack of PLI schemes in the sector.
Agarwal said in a post on platform X that India currently imports nearly 90 per cent of its oil and gas requirements and remains exposed to supply disruptions, particularly given its maritime geography. With domestic demand for oil and gas expected to continue growing for at least the next two decades, he said “there is no option but to raise our domestic production.”
Drawing from his 15 years in the sector, Agarwal said domestic production could be achieved at nearly half the cost of imports. He noted that Vedanta subsidiary Cairn has produced around 1.3 billion barrels over the years and contributed about $40 billion to the exchequer, even as the sector remains among the few without production-linked incentive (PLI) support or other government protection.
Agarwal flagged regulatory hurdles as a key deterrent to investment, noting that India has fewer than 20 active exploration licences, compared with a potential requirement of around 2,000. He said fears around regulatory action, court cases and licence cancellations discourage global investors, adding that even a single public dispute can damage confidence for years.
“The world wants India to be a market, not a producer,” Agarwal said, arguing that domestic production is essential for job creation, as demonstrated globally. He drew parallels with India’s past journey from food import dependence to self-sufficiency, achieved through sustained policy support and a national movement.
— AnilAgarwal_Ved (@AnilAgarwal_Ved)
As countries worldwide race to secure their own energy and mineral resources, Agarwal said India must move faster to unlock what lies beneath its soil. Vedanta aims to increase its production fivefold, while the country’s overall output would need to rise tenfold to meet future demand and support economic growth under the vision of Viksit Bharat.He said enabling thousands of drilling rigs across the country—including participation by startups and small entrepreneurs through leased rigs—would require a stable and supportive policy environment. Agarwal called for a shift from heavy regulation to facilitation to help India move decisively towards energy independence.
