New Delhi, Oct 29: Hardeep Singh Puri, Minister of Petroleum and Natural Gas, emphasized the significance of India’s energy and shipping sectors during the ‘Revitalizing India’s Maritime Manufacturing Conference’ in Mumbai.

He highlighted India’s rapid GDP growth, now at approximately $4.3 trillion, largely driven by trade, which underlines the importance of shipping. India consumes about 5.6 million barrels of crude oil daily, with projections indicating a rise to 6 million barrels soon.

The country is expected to contribute to nearly 30% of the global increase in energy demand over the next two decades, necessitating a greater shipping capacity for oil and gas transport.

Puri noted that the oil and gas sector represents 28% of India’s trade volume, emphasizing the heavy reliance on i

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