As oil prices surge amid the Strait of Hormuz crisis, India’s decade-long push for renewable energy, EVs, hydrogen and domestic manufacturing under PM Modi is emerging as a strategic shield against global energy shocks.
The SHANTI Bill, 2025 opens India’s nuclear energy sector to responsible private participation while strengthening safety, investment, and innovation to drive growth in healthcare, agriculture, clean power, and climate resilience.
When taken as a whole, the tour portrays an India that is building coalitions, corridors, and capabilities rather than chasing headlines, reducing the risk of trade routes, expanding strategic options in West Asia and the western Indian Ocean, and maintaining the credibility of India's development-first diplomacy in a world of sharper blocs and precarious supply lines.
In San Cristóbal (40%) and Carabobo-1 (~18%), ONGC Videsh still has stock. Caracas agreed to pay some of the about $600 million in unpaid oil dividends after 2023–24 flexibility, but additional US tightening forced ONGC to look for its own unique US licenses to operate and collect debts.