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Samudra Manthan scheme: Hardeep Puri tells SRCC students to turn energy challenges into enterprises

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The Samudra Manthan scheme, India’s Rs 84,084 crore plan to explore offshore oil and gas, was a key point in Petroleum Minister Hardeep Singh Puri’s address to students on 16 October 2026. Puri gave the valedictory speech at ‘Pathways to Viksit Bharat: A Centenary Conclave’, a two-day national conference organised by Shri Ram College of Commerce (SRCC), part of the University of Delhi, at the Stein Auditorium of the India Habitat Centre in New Delhi.

Samudra Manthan scheme: Petroleum Minister Hardeep Singh Puri at SRCC's Centenary Conclave in New Delhi
Petroleum Minister Hardeep Singh Puri at SRCC's Centenary Conclave in New Delhi Photo: PIB (Government of India, free to use with credit).

What the Samudra Manthan scheme covers

Puri told the audience that the government has approved the Samudra Manthan scheme, also called the National Offshore Exploration Scheme, with an outlay of Rs 84,084 crore. The Union Cabinet approved it on 31 July 2026 as a central sector scheme of the Petroleum Ministry, for implementation up to 2030-31, according to the Prime Minister’s website. Puri said it aims to unlock India’s large offshore hydrocarbon potential through faster exploration, modern technology, shared infrastructure and stronger domestic manufacturing. DD News reported the same figures. The plan follows the Prime Minister’s Independence Day 2025 call for a modern-day ‘Samudra Manthan’ to tap energy under the sea.

Key Facts

  • Scheme: Samudra Manthan (National Offshore Exploration Scheme)
  • Outlay: Rs 84,084 crore, up to 2030-31
  • Cabinet approval: 31 Jul 2026
  • Event: SRCC Centenary Conclave, India Habitat Centre, 16 Oct 2026
  • Also cited: GOBARdhan scheme launched 1 Oct

“The task of a university is to weld together imagination and experience.”

— Hardeep Singh Puri, quoting Alfred North Whitehead, as reported by PIB

Energy security and waste to wealth

On energy security, the minister pointed to the GOBARdhan scheme launched on 1 October, which turns farm residue and organic waste into domestic energy. He described it as a practical business opportunity that helps farmers, earns economic returns and strengthens national energy security, in line with the ‘Waste to Wealth’ and ‘Annadata to Urjadata’ ideas. Puri also said India kept essential fuel supplies running during recent crises in West Asia by diversifying energy sources and building up domestic capacity. He asked commerce and economics students to use their training to question assumptions and turn practical problems in energy, finance and logistics into productive enterprises.

Puri on stage at 'Pathways to Viksit Bharat: A Centenary Conclave'
Puri on stage at 'Pathways to Viksit Bharat: A Centenary Conclave' Photo: PIB (Government of India, free to use with credit).

Viksit Bharat and SRCC's centenary

Marking SRCC’s centenary year, Puri noted that the college was founded during colonial rule and now prepares young Indians to lead global companies and shape public policy. Quoting philosopher Alfred North Whitehead, he said the task of a university is to weld together imagination and experience. Repeating a question the Prime Minister asked on his recent visit to SRCC, he asked why Indian companies should not lead the world when Indian talent already leads major global corporations. He urged students to build Indian institutions and enterprises that earn international trust, and said he was confident the young generation would take India to Viksit Bharat by 2047. The two-day conclave brought together policymakers, economists, faculty and students to discuss policy priorities, financial coordination and growth paths for India’s future, PIB said.

Why It Matters: More oil and gas found off India's coast would cut the import bill and make fuel supplies safer when wars or crises disrupt global markets.

Also on TrendDesh: 57th GST Council reforms: CBIC chief explains end of GST arrests and faster refunds in Hyderabad · India Brunei trade talks: third Joint Trade Committee targets farm exports, pharma and energy

Source: PIB (Ministry of Petroleum and Natural Gas) · DD News · PM India (Cabinet decision)

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