If Oil is Found in the Andaman Islands, India’s Economy Could Grow Six fold : Petroleum Minister

Union Petroleum Minister Hardeep Singh Puri

New Delhi – Union Petroleum Minister Hardeep Singh Puri stated that the ongoing oil exploration in the Andaman and Nicobar Islands may soon yield results. He said the oil reserves discovered in the Andaman region could be as significant as those found in Guyana.

1. The government-owned oil corporation ONGC (Oil and Natural Gas Corporation) is currently engaged in oil exploration in the Andaman and Nicobar Islands. So far, ONGC has drilled more than 500 oil wells in the region. Minister Hardeep Singh Puri expressed confidence that oil will soon be discovered there.

2. Puri further stated that if significant oil reserves are found, India’s economy could benefit five to six times over its current scale.

3. A major oil reserve was discovered in the South American country of Guyana. Once considered extremely poor, this country is now regarded as wealthy. The discovery of oil in Guyana has transformed the lives of its citizens. Per capita income in Guyana has increased rapidly due to oil exploration.

4. Currently, India meets around 80% of its oil requirements through imported crude oil. In the financial year 2025 alone, India spent $177 billion (over ₹10 lakh crore) on oil imports.

5. In such a scenario, if oil is found in the Andaman Islands, India could save more than ₹50 lakh crore over the next five years. This money staying within the country would significantly strengthen the Indian economy. Due to Union Minister Hardeep Singh Puri’s statement, public expectations in India have risen even further.