India Increases Domestic Oil, Gas Production Amid West Asia Crisis
Reserve Bank of India Governor Sanjay Malhotra announced that India is ramping up domestic oil and gas production in response to the ongoing crisis in West Asia. The region accounts for approximately one-sixth of India's exports and half of its crude oil imports. Malhotra highlighted that while there is no shortage of oil, some rationing of gas for industrial purposes is occurring. He noted India's average growth rate of 6.1 per cent over the past decade, compared to the global average of 3.2 per cent. The RBI is currently maintaining a neutral policy stance to remain flexible in addressing inflation and growth dynamics.
Published 15 hours ago • 21 Apr 2026, 01:26 AM IST