What is the 'Samudra Manthan' scheme approved by the government? ₹84,084 crore will be spent..
The Union Cabinet, chaired by PM Modi, has approved the ‘Samudra Manthan’ scheme—the National Offshore Exploration Scheme. This is an ambitious initiative by the Ministry of Petroleum and Natural Gas aimed at boosting oil and natural gas exploration in the country's offshore (marine) regions. A total of ₹84,084 crore will be spent on this scheme through the 2030-31 financial year. The scheme represents a significant step towards strengthening India's energy security, accelerating domestic exploration and production, fostering technological leadership, and advancing the vision of a ‘Viksit Bharat’ (Developed India).
The ‘Samudra Manthan’ scheme is projected to add over 600 million metric tonnes to India's oil reserves; it will also significantly expand offshore exploration activities and boost domestic oil and gas production.
What did Amit Shah say?
Union Home Minister Amit Shah wrote on the social media platform X (formerly Twitter): "The Union Cabinet's approval of the ₹84,084 crore ‘Samudra Manthan’ scheme will impart new momentum to the nation's development journey. By harnessing India's vast offshore energy potential, this scheme will boost domestic oil and gas production and generate large-scale employment, thereby helping to rapidly realize Modi ji's vision of a ‘Viksit Bharat’."
Notably, India imports approximately 90 percent of its oil requirements. With global energy security under threat due to potential blockades of routes such as the Strait of Hormuz, the Red Sea, and the Black Sea, India is striving to secure its oil and gas supplies.
Boost to indigenous manufacturing.
The scheme is expected to generate large-scale employment, strengthen indigenous manufacturing under the ‘Make in India’ and ‘Atmanirbhar Bharat’ (Self-Reliant India) initiatives, and create a globally competitive ecosystem for offshore technologies and services. Furthermore, it is likely to attract substantial investment across the exploration and production value chain, opening up long-term opportunities for industry, innovation, and economic growth.
Benefits of the ‘Samudra Manthan’ scheme:
It will accelerate the accumulation of hydrocarbon reserves, adding over 600 million tonnes of oil.
It will increase annual production by 10–15 million tonnes, with a peak capacity of 20 million tonnes per annum.
Reducing imports by boosting domestic production will result in annual foreign exchange savings.
It will boost investment in the exploration and manufacturing sectors.
It will drive robust GDP growth.
It will generate employment in the power and oil production sectors.
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