India now has 40 crude oil suppliers, domestic output also rising: Hardeep Puri

New Delhi, June 18 Union Petroleum and Natural Gas Minister Hardeep Singh Puri spoke to IANS on Wednesday about important issues like the impact of the Israel-Iran conflict, India's fuel supply, and the country's growing economy.

In the interview, he shared how India is prepared to deal with global challenges and how government efforts have helped improve energy access for people across the country.

Here are the excerpts from the conversation:

Q: Will the ongoing Israel-Iran conflict impact petrol and diesel supply in India?

Hardeep Singh Puri: Let me make it absolutely clear -- there is no shortage of petrol or diesel in India, and there is no need for concern at this point. Currently, there is no global shortage of crude oil.

In fact, the number of countries supplying crude oil to India has increased from 27 to 40. Additionally, India is also producing crude oil domestically. Our output is growing, and we have adequate stock to ensure smooth supply.

Q: What are the major achievements of the Petroleum Ministry in the last 11 years?

Hardeep Singh Puri: Our core responsibility has been to ensure uninterrupted supply of petrol, diesel, and LPG across the country. One of the biggest milestones has been the launch of the Ujjwala Yojana by Prime Minister Narendra Modi in 2016. Today, over 10.33 crore poor families have benefitted from this scheme.

Earlier, LPG cylinders were largely limited to urban areas. But this government has made sure that even the most remote rural regions have access to clean cooking fuel. Additionally, we started with just 1.4 per cent biofuel blending in 2014 -- that number has now reached 20 per cent.

Q: India is now the world’s fourth-largest economy. Do you think the world acknowledges India’s growing strength?

Hardeep Singh Puri: India has grown from a $2 trillion to a $4 trillion economy and is currently growing at an annual rate of 6.5 per cent. At this pace, we are well on track to becoming an $8 trillion economy in the near future.

This growth has a direct impact on the lives of our citizens. It fuels economic activity, increases per capita income, and enhances the flow of goods and services -- especially in today’s interconnected world. A growing economy also strengthens our global standing and boosts international credibility.

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