Key Points

The Prime Minister’s statement on X social media platform came in response to an article written by Minister of Petroleum and Natural Gas, Hardeep Singh Puri, elaborating how the major reforms undertaken by the PM Modi have accelerated India’s growth on the path to achieve the 'Viksit Bharat' goal.

The minister said, “Prime Minister Narendra Modi’s unprecedented 12th Independence Day speech was remarkable for its sweep and scope. The speech which unleashed a Brahmastra - aimed at accelerating India's path to Visit Bharat reminded us, the world is watching an ancient civilisation transform into a modern power - not by abandoning its roots but by drawing strength from them.”

Puri, in an article titled the 'Red Fort Charter', stated that “from energy security to employment, PM Modi laid out a blueprint for wide-ranging reform. The speech was remarkable not merely for its sweep but for its scope — next-generation reforms that are bold, and capable of reshaping the destiny of 1.4 billion people — with a clarity of vision that the nation has never witnessed before.”

He further stated that India's clear assertion of sovereignty over critical technologies, announcement of National Critical Minerals Mission, focus on nuclear energy, unveiling of Mission Sudarshan Chakra, bold tax and legal reforms, PM Viksit Bharat Rozgar Yojana and National Deep Water Exploration Mission -- with other far-reaching reforms and measures -- will triple India’s domestic hydrocarbons production to 85 million tonnes by 2032.

The Petroleum Minister further pointed out that energy security had long been the Achilles’ heel of India’s growth. For decades, hesitation and “no-go” classifications throttled exploration and deepened import dependence.

Under PM Modi, India has reduced “no-go” areas for Exclusive Economic Zones by almost 99 per cent, freeing 10 lakh sq km for exploration and production (E&P).

"Coupled with Open Acreage Licensing Policy (OALP), this has opened a vast canvas to Indian champions and global majors alike — our hydrocarbon basins will no longer lie dormant but be harnessed for national progress," the minister wrote.

The National Deepwater Exploration Mission, announced from the ramparts of the Red Fort, sets an ambitious frontier agenda in the Bay of Bengal and the Arabian Sea. It aims to unlock 600-1,200 million metric tonnes of oil and gas reserves through the drilling of nearly 40 wildcat wells. For the first time, India will systematically open up its complex offshore frontiers — from the Bay of Bengal to the Arabian Sea — with a framework that de-risks investment by allowing recovery of up to 80 per cent of costs in the case of dry wells, and 40 per cent upon commercial discovery, he added.

- IANS