The Indian Cabinet, chaired by Prime Minister Narendra Modi, has approved an offshore oil and gas exploration scheme with an outlay of US$8.81 billion (840.84 billion Indian rupees). The plan, named 'Samudra Manthan', is scheduled for implementation through the 2030-31 financial year. [claim:1, claim:2, claim:4]
The program includes large-scale acquisition, processing, and interpretation of seismic data, alongside accelerated deepwater and ultra-deepwater exploratory drilling. It also involves establishing an integrated oil and gas manufacturing and services zone. [claim:3]
Currently, domestic production meets approximately 10 per cent of the country's crude oil requirements. [claim:5, claim:6]
“If exploration is carried out properly, India can achieve substantial production,”
The government described the plan as a step towards strengthening energy security and accelerating domestic exploration. [claim:14] Petroleum and Natural Gas Minister Hardeep Singh Puri stated that a recent energy crunch provided fresh impetus to expand domestic supplies. [claim:15]
Solar energy expansion
Alongside the offshore scheme, the Indian government approved a US$0.53 billion outlay for developing floating solar photovoltaic projects with energy storage systems. [claim:8] The government targets 102 gigawatts of solar power capacity over the next five years by using installations on reservoirs, canals, and industrial water bodies. [claim:9]
India's current installed solar capacity
India's current installed solar capacity stands at approximately 162 gigawatts. [claim:10] Information and Broadcasting Minister Ashwini Vaishnaw stated that the solar programme aims to prevent 10 million tonnes of CO2 emissions as the country seeks to achieve carbon neutrality by 2070. [claim:11, claim:12]