India must push for energy independence amid global uncertainty: Vedanta chairman Anil Agarwal

In a post on X, Agarwal warned that India remains vulnerable due to its heavy dependence on energy imports, noting that nearly 90 per cent of the country’s oil and gas needs are imported.

“In today’s turbulent geopolitics, it is critically important for every large nation to secure energy independence. India is vulnerable because we import 90 per cent of our oil and gas. We are surrounded by sea on three sides, which can be blockaded in hostile times,” he said.

“There is no option but to raise our domestic production. We are the world’s fastest-growing market for oil and gas, and our demand will keep growing for at least another 20 years,” Agarwal added.

The Vedanta chairman stressed that India should rely on its entrepreneurs, businessmen and startups to drive exploration and energy production, saying the country is “blessed with tremendous resources”.

“Fortunately, we are blessed with tremendous resources—around 300 billion barrels equivalent, more than 30 times Guyana’s potential. We also have amazing entrepreneurs—our businessmen, youngsters and startups,” he said.

Highlighting India’s talent pool, Agarwal noted that 10 per cent of global oil and gas experts are Indians, underlining the need to focus on exploration, which he described as “the core of this business”.

Citing the example of the United States, Agarwal said the country transformed itself from being dependent on hydrocarbon imports by opening up exploration to entrepreneurs and making it financially attractive.

“They changed it by opening up exploration to entrepreneurs and making it lucrative. Even backyards of homes and farms were explored, and everyone benefited,” he said.

Agarwal also pointed out that India currently has only about 200 active energy licences, far below what is required.

“Today, there are hardly 200 active licences in India, when there should be 2,000,” he said, flagging legal uncertainty as a major deterrent for investors.

He compared the situation to the decline of the Ghana Bird Sanctuary in Bharatpur, which lost migratory birds after a few were shot years ago, saying even a single adverse incident can damage investor confidence for years.

“Even one court case or notice in the public domain spreads like wildfire across the world,” he said.

Calling for a firm push towards self-reliance, Agarwal said India must follow the path it took in transitioning from food imports to self-sufficiency.

“The world doesn’t want India to produce; it wants India only as a market. But only domestic production creates jobs, as proven globally. We must push back. We must fight to be self-sufficient,” he said.

He added that as countries across the world race to secure their own energy and mineral resources, India must act swiftly to harness what lies beneath its soil, noting that the government has been encouraging growth, collaboration and investment in the sector.