Anil Agarwal, Chairman of Vedanta Limited, said that some countries may not want India to expand its oil and gas sector. He shared these views while speaking at the India Today Conclave 2026. According to Agarwal, if India becomes self-sufficient in energy production, it could reduce its dependence on imports from other regions.
Agarwal explained that many countries rely on exporting oil and gas. Therefore, if India significantly increases its domestic production, it could affect global demand for energy imports. He suggested that India must focus on developing its own resources in order to strengthen energy security and economic growth.
India Should Focus More on Mining and Natural Resources
During the discussion, Agarwal highlighted that India has achieved major success in agriculture and food production. However, he believes the country has not explored its underground resources fully.
He compared mining to farming beneath the earth’s surface. According to him, mining is similar to agriculture, but instead of crops, it produces valuable minerals and energy resources. Agarwal said that while agriculture receives significant attention, mining and resource exploration should also become national priorities.
India has large reserves of minerals and natural resources. These include gold, copper, bauxite, hydrocarbons, and uranium. Agarwal said that developing these resources can help India reduce imports and create new employment opportunities.
Regulatory Environment Needs Improvement
Agarwal also spoke about the regulatory challenges faced by businesses in the mining sector. He said entrepreneurs often receive multiple notices and regulatory queries that consume time and reduce confidence among investors.
According to him, businesses need a more supportive environment in order to invest and expand operations. Agarwal suggested that authorities should provide more trust and flexibility to entrepreneurs. He also recommended the use of self-certification systems and simpler regulatory procedures.
He added that improving ease of doing business could encourage both domestic and international investors to participate in India’s resource sector.
Large Untapped Resource Potential
Agarwal emphasized that India’s geological potential is among the best in the world. However, he pointed out that it takes several years to start mining operations even after a mine has been auctioned.
He said that less than five percent of India’s mines have been fully explored so far. This means there is still significant opportunity to discover and develop new mineral reserves.
Agarwal mentioned that companies such as Hindustan Zinc, Bharat Aluminium Company, and Sesa Goa have the capacity to increase production many times over if policies support expansion and exploration.
Investment Opportunities in Oil and Gas
Agarwal also spoke about potential investment opportunities in India’s oil and gas sector. When asked whether Vedanta would consider investing if the government decides to divest its stake in Oil and Natural Gas Corporation, Agarwal said the company would explore all opportunities.
He added that India has strong potential in offshore and onshore energy exploration. Regions such as the Krishna-Godavari Basin are already known for their hydrocarbon reserves and can play an important role in boosting domestic production.
According to Agarwal, technological advancements have also reduced the cost of starting drilling operations. Entrepreneurs today can install drilling equipment at a relatively lower investment compared to the past.
Encouraging Entrepreneurial Risk-Taking
Agarwal also expressed concern about the declining risk-taking attitude among entrepreneurs. He noted that in the past, many entrepreneurs were willing to take financial risks to build businesses.
However, he said that today many investors prefer to keep funds in reserve rather than invest aggressively. Agarwal believes India needs a stronger entrepreneurial culture in order to unlock the full potential of its natural resources.
He encouraged entrepreneurs to explore opportunities in sectors such as mining, energy production, and manufacturing.
Reducing Import Dependence
India currently imports large quantities of energy resources, including oil, gas, and coal. Agarwal said that expanding domestic production could significantly reduce this dependence.
He also pointed out that India imports billions of dollars worth of coal every year. According to him, increasing domestic mining could help save foreign exchange and generate employment within the country.
Agarwal suggested opening the coal sector further for development and investment. This could increase production and reduce the need for imports.
Energy Security and Policy Reforms
Global geopolitical tensions have also highlighted the importance of energy security. Agarwal noted that disruptions in global energy supply chains can affect countries that rely heavily on imports.
Therefore, he believes India needs new policies to strengthen its oil and gas sector. According to him, expanding exploration and encouraging private participation could help India achieve greater energy independence.
Agarwal concluded by saying that India remains one of the best places in the world to invest. However, stronger cooperation between the government and businesses will be necessary to unlock the country’s full potential in natural resources, mining, and energy production.