11 Years of Modi: Fuelled by Vision, Powered by Energy

A few days ago, India overtook Japan to become the world's fourth-largest economy. Since 2014, under Prime Minister Modi's leadership, India's GDP has more than doubled to USD 4.3 trillion in 2025. This is the result of a decade-long strategy centred on reforms, resilience, and relentless pursuit of self-reliance.

- SHRI HARDEEP S PURI

India has not only become the world's fastest-growing major economy but also a strategic force. The energy sector, integral to this rise, has undergone a structural transformation during the first year of Modi 3.0, building on ten years of foundational change.

More importantly, India's growth rate of 6.7% in the last quarter places it on a fast trajectory that none of the other countries can remotely hope to achieve in the coming years.

India is now the third-largest energy and oil consumer, fourth-largest refiner, and fourth-largest LNG importer globally. With energy demand expected to grow two and a half times by 2047 and 25% of incremental global demand set to come from India, the roadmap is clear: energy security is development security.

Modi government's energy strategy addressesthe Energy Trilemma of availability, affordability, and sustainability through a four-pronged approach-diversification of sources and suppliers, expansion of domestic production, transition to renewables, and affordability.

In the upstream oil and gas sector, India's exploration acreage has doubled from 8% in 2021 to 16% in 2025. With a goal of covering 1 million sq. km by 2030, the government aims to unlock 42 billion tonnes of oil and oil-equivalent gas. This expansion has been enabled by landmark reforms such as the reduction of 'No-Go' areas by 99%, streamlined licensing through OALP rounds, and attractive pricing incentives for new gas wells.

The revised gas pricing mechanism-linking prices to 10% of the Indian Crude Basket and offering a 20% premium for new wells-has enhanced gas availability for city gas networks and industrial usage. To reduce costs and accelerate monetisation, new revenue-sharing contracts allow shared infrastructure among E&P players.