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India launches Rs 84,084 crore Samudra Manthan scheme for offshore exploration

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The Indian government approved the Samudra Manthan – National Offshore Exploration Scheme on July 31, 2026, to accelerate deep-sea and offshore energy exploration. The scheme has been allocated a budget of Rs 84,084 crore for its first phase. Phase I will run through the financial year 2030-31. Prime Minister Narendra Modi welcomed the initiative, signalling a major policy shift in India's offshore exploration ambitions.

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India launches Rs 84,084 crore Samudra Manthan scheme for offshore exploration · ShortSingh