India's self-reliance ambition in energy sector faces rising import hurdle

During the financial year 2021-22, India's petroleum imports was around 23.8 per cent of its gross imports and the country was dependent on imports for 86 per cent of its crude oil requirement

The essence of Prime Minister Narendra Modi’s Independence Day speech was that of Aatmnirbhar Bharat (self-reliant India), and the energy sector was its key focus. Evoking domestic manufacturers, the PM called for a decrease in imports in the country’s energy sector.

Referring to alternative energy sources such as solar, wind, green hydrogen, biofuel, and also a shift to electric mobility, the PM said: “We have to be self-reliant in our energy sector. For how long will we be dependent on others for energy? Solar, green energy, renewable, mission hydrogen, biofuel, and electric vehicles (EVs), we need to take these initiatives to