Chaitanya Singh, L.L.B (Hons.), Jindal Global Law School, Sonepat, Haryana
ABSTRACT
The oil and gas industry, one of India's eight principal sectors, influences other economic decisions. In 2021, India was the third-largest oil consumer. This position the industry well for expansion. The oil and gas industry may be crucial to future economic development. Investing in oil and gas is often profitable for both the firm and the investor. It may be successful in India Given India's growing need for crude oil and its extensive home and commercial use, action will be taken. Future investment prospects in this sector.
In accordance with the government's goal of making it easier to conduct business in India, the Indian government has addressed teething issues in the oil and gas industry. The Indian government altered upstream rules to attract foreign investment (i.e., from NELP to HELP). The dynamic oil and gas industry will generate opportunities for economic expansion.
