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Oil & Gases

		The oil and gas sector is among the six core industries in India and plays a major role in influencing decision making for all the other important sections of the economy. In 1997â€“98, the New Exploration Licensing Policy (NELP) was envisaged to fill the ever-increasing gap between Indiaâ€™s gas demand and supply. A recent report points out that the Indian oil and gas industry was worth US$ 139.8 billion by 2015. Indiaâ€™s economic growth is closely related to energy demand; therefore the need for oil and gas is projected to grow more, thereby making the sector quite conducive for investment. The Government of India has adopted several policies to fulfil the increasing demand. The government has allowed 100 per cent FDI in many segments of the sector, including natural gas, petroleum products, and refineries, among others. Today, it attracts both domestic and foreign investment and the presence of major players such as Reliance Industries Ltd and Cairn India.