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India’s growth connected to progress of energy, shipping sectors: Hardeep Singh Puri
Oct-30-2025

Minister of Petroleum and Natural Gas, Hardeep Singh Puri, has said that India’s rapid economic growth is closely connected to the progress of its energy and shipping sectors, which together serve as strong pillars of national development. The Minister further said that India’s economy is growing fast, with the GDP now around 4.3 trillion dollars. Nearly half of this comes from the external sector, which includes exports, imports, and remittances. This shows how important trade - and therefore shipping - is for India’s economic progress.

On the energy sector, Puri said that India currently consumes about 5.6 million barrels of crude oil per day, compared to 5 million barrels four and a half years ago. At the present rate of growth, the country will soon reach 6 million barrels per day. He also shared that according to the International Energy Agency, India is expected to contribute nearly 30 percent of the global rise in energy demand in the next two decades, an increase from the earlier estimate of 25 percent. He added that this growing energy requirement will naturally increase India’s need for ships to move oil, gas, and other energy products across the world.

Besides, the Minister said that during 2024-25, India imported around 300 million metric tons of crude and petroleum products and exported about 65 million metric tons. The oil and gas sector alone accounts for nearly 28 percent of India’s total trade by volume, making it the largest single commodity handled by ports. He said that India currently meets about 88 percent of its crude oil and 51 percent of its gas needs through imports, which shows how important the shipping industry is for the country’s energy security.


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