Indian Oil Imports To Drop 10 Percent Over Next Six Years

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India will cut 10 percent of its oil imports by 2022 to raise the domestic output, conserving fuel and encouraging alternate sources like natural gas.


"The Prime Minister has set us a target of reducing oil import dependence by 10 percent within the next 6 years. We are confident of achieving that" said , Oil Minister Dharmendra Pradhan.

Pradhan added that the 2022 target will help to boost the domestic output and fuel conservation. The use of environment friendly gas alone will contribute to half of the 10 percent import dependence cut.

Pradhan said the country is committed to reduce the carbon footprint by 30-35 percent by year 2030. For this, the government will promote the use of clean fuel like CNG.

He further added the government has already taken a number of initiatives that would nurture a large quantity of domestic petroleum production.

Modi had asked to reduce the import dependence in March last year. He insisted to cut to the dependence to 66 percent from 77 percent.

For the balanced growth of the nation, new pipelines will be laid in eastern India which will result in better availability of natural gas in the rural areas of the country.

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Story first published: Wednesday, March 23, 2016, 12:18 [IST]
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