India touts its upstream, again
New database is latest initiative to encourage investors
A new database on India's offshore reserves marks the latest step the country is taking to lure international companies to its upstream—part of an effort to lift domestic production to meet burgeoning demand. India will be one of the fastest-growing oil markets in the world between now and 2040, according to the International Energy Agency (IEA), and China and India together accounted for around half of the increase in global energy demand last year, reckons BP. And India's thirst for energy looks only certain to keep rising quickly. The country's GDP will grow by 7% this year and nearly 8% in 2018, predicts the OECD. The government's Make In India manufacturing programme is also continuing
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