PM Narendra Modi announces 'Samudra Manthan' to open offshore exploration
India
On Independence Day, PM Modi announced a big move: India's new Samudra Manthan initiative.
Until now, almost all offshore areas were off-limits for oil and gas exploration, but that's changing.
The plan is to open up these zones to find new energy reserves and cut down on how much crude oil India needs to import.
Union Cabinet approved ₹84,084 cr budget
Approved by the Union Cabinet last month, Samudra Manthan is set to run through financial year 2030-31 with a budget of ₹84,084 crore.
It focuses on mapping rocks beneath the seabed, deepwater drilling, and building offshore infrastructure.
The government hopes this could add over 600 million metric tons of oil equivalent to India's reserves, making the country more self-reliant and strengthening energy security.