Bengaluru : Anil Agarwal, Chairman, Vedanta Ltd., has welcomed the Government of India’s investor-friendly policy initiatives in the oil and gas sector, stating that the latest reforms reflect a shift towards greater trust, ease of doing business and a stronger focus on domestic production.
In a social media post following his participation in the India Energy Bid Promotion roadshow in London last week, Agarwal appreciated the quality of presentations and the representation from the Ministry of Petroleum and Natural Gas. He highlighted key policy measures, including the move towards self-certification in place of lengthy clearances, the willingness to resolve pending litigation through mutual discussions, and the provision for extending leases for the lifetime of an oil and gas field.
He noted that these measures would provide greater confidence to investors, reduce operational uncertainties and allow companies to focus on increasing domestic production. Emphasising the importance of trust between the Government and industry, he said, “As I always say, it is all about bharosa and that is now being reflected.”
Agarwal also underlined India’s significant untapped potential in the oil and gas sector, noting that as awareness of the country’s profitability and investment opportunities grows, more large companies are likely to participate in bidding for oil and gas blocks. He added that companies could also explore partnerships with local players, particularly under the Samudra Manthan programme.
Pointing to the growing interest of global investors in smaller geographies such as Guyana, Agarwal said India offers an even more compelling opportunity, backed by world-class policies and a favourable investment environment. He expressed confidence that the Government’s policy direction would attract greater participation from domestic and international players and strengthen India’s efforts to enhance energy production.
****