Does India Now Have 40 Crude Oil Suppliers and Rising Domestic Output?
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Synopsis
Union Minister Hardeep Singh Puri reveals that India now has 40 crude oil suppliers and is witnessing a rise in domestic production, ensuring a stable fuel supply amidst global challenges. Discover the significant strides made in fuel accessibility and India's economic growth trajectory.
Key Takeaways
- India has 40 crude oil suppliers, ensuring stable supply.
- Domestic crude oil production is on the rise.
- Ujjwala Yojana has benefited over 10.33 crore families.
- India's economy is growing at 6.5 percent annually.
- Biofuel blending has increased from 1.4% to 20%.
New Delhi, June 18 (NationPress) Union Petroleum and Natural Gas Minister Hardeep Singh Puri shared insights with IANS on critical topics including the ramifications of the Israel-Iran conflict, India's fuel supply, and the nation's thriving economy.
During the discussion, he elaborated on how India is equipped to tackle global challenges and highlighted the government's initiatives to enhance energy accessibility for citizens nationwide.
Here are the key excerpts from the conversation:
Q: Will the ongoing Israel-Iran conflict impact petrol and diesel supply in India?
Hardeep Singh Puri: I want to emphasize that there is no shortage of petrol or diesel in India, and there is no reason for alarm at this moment. Currently, we face no global crude oil shortages.
In fact, the number of nations supplying crude oil to India has increased from 27 to 40. Furthermore, domestic crude oil production is also on the rise. Our output is expanding, and we possess sufficient reserves to guarantee a steady supply.
Q: What are the significant accomplishments of the Petroleum Ministry in the past 11 years?
Hardeep Singh Puri: Our primary responsibility has been to maintain an uninterrupted supply of petrol, diesel, and LPG throughout the country. A major milestone was the introduction of the Ujjwala Yojana by Prime Minister Narendra Modi in 2016. Today, more than 10.33 crore impoverished families have benefited from this initiative.
Previously, LPG cylinders were predominantly available in urban centers. This administration has ensured that even the most isolated rural areas have access to clean cooking fuel. Additionally, we have progressed from just 1.4 percent biofuel blending in 2014 to an impressive 20 percent now.
Q: India is now the world’s fourth-largest economy. Do you think the world recognizes India’s growing strength?
Hardeep Singh Puri: India has expanded from a $2 trillion to a $4 trillion economy and is currently experiencing an annual growth rate of 6.5 percent. At this trajectory, we are on track to become an $8 trillion economy shortly.
This growth directly influences the lives of our citizens, stimulating economic activity, raising per capita income, and enhancing the distribution of goods and services—especially in today’s interconnected world. A burgeoning economy also bolsters our international standing and enhances our global credibility.
Point of View
It is vital to recognize that India's strides in the oil sector and economic growth reflect a robust response to global challenges. The government is taking decisive steps to ensure energy security and enhance the living standards of its citizens, reinforcing the nation’s commitment to progress and resilience.
NationPress
18/06/2025
Frequently Asked Questions
Will the Israel-Iran conflict affect fuel supply in India?
No, according to Minister Hardeep Singh Puri, there is currently no shortage of petrol or diesel in India, and the country is well-prepared to manage fuel supplies.
How many countries supply crude oil to India now?
The number of countries supplying crude oil to India has increased from 27 to 40, ensuring a diverse and stable supply.
What is Ujjwala Yojana?
Launched in 2016, Ujjwala Yojana aims to provide LPG connections to poor families, significantly enhancing access to clean cooking fuel.
What is India's current economic growth rate?
India is experiencing an annual growth rate of 6.5 percent, positioning the nation on a path to becoming an $8 trillion economy.
What progress has been made in biofuel blending?
Biofuel blending has surged from 1.4 percent in 2014 to 20 percent today, showcasing India's commitment to sustainable energy.
