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India’s petroleum & energy sector to play defining role in shaping global energy future: Hardeep Singh Puri
Oct-29-2025

Minister of Petroleum and Natural Gas, Hardeep Singh Puri has said that India’s petroleum and energy sector is undergoing a transformative expansion, poised to play a defining role in shaping the global energy future. He also said that India’s energy journey reflects remarkable progress driven by visionary policy frameworks, rapid innovation, and sustained investment across refining, biofuels, and green energy segments. The Minister further noted that while the global energy market is expected to grow at a slow pace - with several refineries worldwide facing closure - India stands out as a bright spot, projected to contribute nearly 30-33% of global energy demand growth in the coming decades. 

He pointed out that India’s refining capacity currently stands at about 258 million metric tonnes per annum (MMTPA) and is on track to reach around 310 MMTPA by 2030, with long-term plans to scale further to 400–450 MMTPA. He said this expansion will consolidate India’s position among the top three refining hubs globally as around 20% of existing global refining capacity - over 100 refineries - faces potential closure by 2035.

Highlighting India’s achievements in biofuel blending, Puri said that the country had advanced from a 5% target in 2006 to achieving 10% ethanol blending five months ahead of schedule in 2022. Building on this success, the Government preponed the target for 20% blending from 2030 to 2025-26. The Minister underlined that well-designed policies and robust support systems have enabled such accelerated achievements, demonstrating India’s capability to set and meet ambitious energy goals.

The Minister also underlined the importance of innovation and indigenization in the energy ecosystem. He said that India has achieved nearly 80% import substitution across the energy value chain. While acknowledging that certain critical components such as catalysts and specialized equipment continue to be imported, he emphasized the need for a balanced approach to Atmanirbharata, focusing on efficiency and global competitiveness rather than complete self-containment. He added that the government has initiated the Production Linked Incentive (PLI) scheme and established a National Centre for Catalyst Research to promote R&D and domestic manufacturing in key energy technologies.

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