Key facts
- India's government will invest 840 billion rupees ($8.8 billion) in deep-sea oil and natural gas exploration.
- The investment aims to encourage drilling in three marine areas previously closed to such activity.
- The initiative seeks to reduce the country's reliance on foreign energy imports.
India's government is set to invest 840 billion rupees, equivalent to $8.8 billion, to boost deep-sea exploration for oil and natural gas. This strategic move aims to enhance the nation's domestic hydrocarbon resource base and reduce its dependence on energy imports from regions like the Middle East. The plan involves encouraging deep-water drilling activities in three marine areas that were previously off-limits for such operations. The initiative underscores India's commitment to energy security and self-sufficiency.