Mukesh Dhirubhai Ambani · "India’s energy security is non-negotiable. We must reduce dependence on import..."

Petrotech 2019 conference, Greater Noida · Checked on 11 March 2026

India’s energy security is non-negotiable. We must reduce dependence on imports and invest in domestic production and renewables.

Analysis

The statement aligns with India’s **2017 National Energy Policy** (NITI Aayog) and **2022 Energy Conservation Act**, both of which emphasize reducing import dependency (then ~85% for oil, per PPAC 2019) and boosting domestic production and renewables. Ambani’s Reliance Industries had also announced major investments in renewables (e.g., $75B over 15 years in 2021), consistent with his 2019 remarks. Independent reports (IEA, BP Statistical Review) confirm these as core national goals, not disputed claims.

Background

At **Petrotech 2019**, India was grappling with volatile oil prices and geopolitical supply risks, prompting urgent calls for self-reliance. The government had already launched schemes like **Hydrocarbon Exploration Licensing Policy (HELP)** and **PM-KUSUM** for solar to address these challenges. Ambani’s statement mirrored official rhetoric, including then-Oil Minister Dharmendra Pradhan’s 2019 target to cut oil imports by 10% by 2022.

Verdict summary

Mukesh Ambani’s 2019 statement accurately reflects India’s long-standing policy priorities on energy security, import reduction, and renewable investments, as corroborated by government documents and industry reports.

Sources consulted

— Government of India, *National Energy Policy (2017)*, NITI Aayog (p. 45-48 on import reduction) – [https://niti.gov.in](https://niti.gov.in)

— Petroleum Planning & Analysis Cell (PPAC), *India’s Crude Oil Import Dependency (2019 Report)* – [https://ppac.gov.in](https://ppac.gov.in)

— International Energy Agency (IEA), *India Energy Outlook 2021* (Section 3.2 on renewables) – [https://www.iea.org/reports/india-energy-outlook-2021](https://www.iea.org/reports/india-energy-outlook-2021)

— Reliance Industries Limited, *Annual Report 2019-20* (Chairman’s Statement on energy security) – [https://www.ril.com](https://www.ril.com)

— BP Statistical Review of World Energy 2020 (India’s import/renewable data) – [https://www.bp.com/en/global/corporate/energy-economics/statistical-review-of-world-energy.html](https://www.bp.com/en/global/corporate/energy-economics/statistical-review-of-world-energy.html)