The Financial And Tech Literacy

India could soon unearth Guyana-like crude oil reserves in the Andaman Sea, boosting energy security and propelling GDP growth. Explore who benefits and what it means. Introduction: An Oil Revolution on the Horizon? India stands at a turning point in its energy journey. For decades, the country has remained deeply dependent on imported crude oil, importing nearly 88% of its annual requirement . This dependency has not only strained the economy but also left India vulnerable to global shocks in oil supply and price. Now, there’s a glimmer of transformation. In a recent statement that stirred industry circles, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri hinted that India might be on the verge of uncovering massive crude oil reserves beneath the Andaman Sea,  comparable in scale to the discoveries that revolutionized Guyana’s economy. If confirmed, this breakthrough could significantly shift India’s energy dynamics , reduce import reliance, and accelerate the...