What makes India a hotspot for Saudi Aramco, Adnoc, other global oil firms

Experts say local demand, government policies in retail and refining sector are attracting foreign players

With Saudi Aramco planning to pick 20 per cent stake in the oil-to-chemical business of Reliance Industries (RIL), India’s downstream oil and gas sector is fast turning out to be a hotspot for global corporate entities.

Saudi Aramco’s announcement comes almost a week after RIL and BP Plc decided to extend their oil and gas sector tie-up to the retail business.

RIL & BP are planning to form a new joint venture company that will include a retail service station network and aviation fuel business across India. 

Besides BP and Saudi Aramco, in the recent past, India has seen a