New Delhi, Nov 28: India’s Union Petroleum Minister Hardeep Singh Puri announced that India’s energy partnerships have expanded from 27 to 40 countries over the past decade due to enhanced energy diplomacy and a secure sourcing network established under Prime Minister Narendra Modi’s leadership.
He emphasized the importance of diversifying partnerships globally to create a resilient energy network, aligning with India’s ambition of becoming a major refining and energy hub.
India’s refining capacity has reached approximately 258 million metric tonnes per annum (MMTPA), with projected growth to 310 MMTPA by 2030 and potentially 400–450 MMTPA in the long term.
These developments position India as a significant player in the global energy market, expected to contribute 30–33 percent of the increase in global energy consumption in the future. Additionally, Indian refineries are poised for export, with petroleum product exports exceeding $45 billion in FY 2024–25, reaching over 50 countries.
