Modi announces National Deep Water Exploration Mission for energy security

“We are preparing to extract deep ocean resources such as reserves of oil and gas,” Modi said in his Independence Day speech. Terming the mission as “Samudra Manthan” (the mythical churning of the sea), he said the initiative will be executed in “Mission Mode”.

India is the world’s third largest crude oil consumer after the US and China. It imported 232.7 million tonnes of crude worth $157.5 billion in 2024-25 . The country imports over 88% of crude oil it processes and also exports various refined products.

“A large part of the budget is spent on bringing in petrol, diesel, and gas. Lakhs and crores are spent on this. If we had not been dependent on the budget, that money would have been used for the future of my country’s youth, fighting poverty and the welfare of the farmers,” Modi said.