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Technology

Policy Economic Report July 2026 - v4

By sanjay singh

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Share link
https://covver.com/magazine/sanjaysingh1305/policy-economic-report-july-2026-v4-2
Published
Aug 7, 2026
Pages
80
Language
English

More in this magazine

  • CoverFIPI Federation of Indian Petroleum Industry
  • Page 2FIPI POLICY AND ECONOMIC OIL & GAS MARKET
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  • Page 8FIPI POLICY AND ECONOMIC OIL & GAS MARKET and options. Speculators were increasingly betting on easing geopolitical risk premiums. At the same time, they sharply raised short positions to their highest level since December 2025, fuelling volatility and accelerating the decline in oil futures prices. Combined futures and options net long positions in ICE Brent and NYMEX WTI dropped to their lowest level since January 2026.
  • Page 9FIPI POLICY AND ECONOMIC OIL & GAS MARKET
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  • Page 16FIPI POLICY AND ECONOMIC OIL & GAS MARKET growth path despite recent geopolitical disruptions. Emerging market economies generally outperformed advanced economies, with India recording the strongest expansion among all economies covered by the survey, followed by Ireland, China and Japan, reflecting the continued resilience of domestic demand in several Asian economies.
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  • Page 21FIPI POLICY AND ECONOMIC OIL & GAS MARKET per cent in FY 2026-27, compared with 7.7 per cent in FY 2025-26, before improving modestly to 6.8 per cent in FY 2027-28. While the projected slowdown reflects a more challenging global environment, India's growth outlook continues to compare favourably with that of other major economies, supported by resilient domestic demand, sound macroeconomic fundamentals and continued policy support.
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  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Figure 14: HSBC India Manufacturing PMI sa, >50 growth since previous month
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  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Figure 15: Total Trade during June 2026
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  • Page 33FIPI POLICY AND ECONOMIC OIL & GAS MARKET
  • Page 34FIPI POLICY AND ECONOMIC OIL & GAS MARKET kilometres of previously restricted offshore areas have significantly expanded exploration opportunities. These reforms, complemented by investments in geoscientific surveys and the National Data Repository, are expected to improve exploration success rates and attract greater investment into frontier basins.
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  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Indian Basket Crude oil price
  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Table 4: Non-Doc liquids production in 2026, mb/d
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  • POLICY AND ECONOMICFIPI OIL & GAS MARKET
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  • Page 47FIPI POLICY AND ECONOMIC OIL & GAS MARKET was further revised for the period 1st April, 2025 30th September, 2025 was notified as US$10.04/MMBTU on Gross Calorific Value (GCV) basis. Prices were further revised for the period 1st October, 2025 - 31st March, 2026 was notified as US$9.72/MMBTU on Gross Calorific Value (GCV) basis as per notification dated 30th September 2025. As per notification dated 31st March 2026, gas prices were further revised for the period 1st April 2026-30th September 2026 and was notified as US$ 8.90/MMBTU on Gross Calorific Value (GCV) basis.
  • POLICY AND ECONOMICFIPI OIL & GAS MARKET
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  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Solar street lighting and provision of lighting in Rs. 1 lakh per MPC MPCs of PVTG areas (under PM JANMAN
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  • Page 73FIPI POLICY AND ECONOMIC OIL & GAS MARKET success of efforts to ramp up assured domestic supply and reduce reliance on the blending mandate.
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  • Page 75FIPI POLICY AND ECONOMIC OIL & GAS MARKET bring together governments, industry, investors, technology leaders, researchers, startups and academia to strengthen partnerships, promote innovation and shape the future of sustainable and technology-driven mining. Highlighting the transformative reforms undertaken over the past decade under the leadership of Prime Minister Shri Narendra Modi, he noted that transparent auctions, commercial coal mining, accelerated exploration, ease of doing business and technology-led governance have positioned India among the world's most attractive mining destinations. Referring to emerging global challenges related to energy security, critical minerals and resilient supply chains, he said India is pursuing an integrated approach that combines policy reforms, technological advancement, value addition, sustainability and international collaboration to build a future-ready mining ecosystem. The Minister expressed confidence that the event would strengthen global partnerships, showcase India's mineral potential and technological capabilities, and contribute to realizing the vision of Aatmanirbhar and Viksit Bharat. He urged all technology innovators, researchers, industries and other stakeholders to be part of the India Mining Week 2026.
  • Page 76FIPI POLICY AND ECONOMIC OIL & GAS MARKET policy reforms and accelerated exploration. Announcing the forthcoming launch of the 8th round of Critical and Strategic Mineral Blocks auctions, he said the initiative will further strengthen domestic availability of critical minerals, encourage greater private sector participation, attract investment and reinforce India's resilient mineral value chains. He noted that India Mining Week 2026 will serve as a global platform to showcase India's mining reforms, resource potential and emerging opportunities while fostering international collaboration, innovation and investment in the sector.
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FIPI

POLICY AND ECONOMIC OIL & GAS MARKET kilometres of previously restricted offshore areas have significantly expanded exploration opportunities. These reforms, complemented by investments in geoscientific surveys and the National Data Repository, are expected to improve exploration success rates and attract greater investment into frontier basins.

To support these technically demanding operations, ONGC has established its dedicated Deepwater Exploration Mission Centre (DeepX) in Mumbai. The centre integrates advanced seismic interpretation, geoscientific analysis, digital technologies, specialised technical expertise and global collaborations to improve the evaluation of complex offshore reservoirs. By consolidating exploration data under the company's "One Company, One Data" framework, DeepX is expected to enhance operational efficiency and strengthen India's technological capabilities in deepwater exploration.

The significance of the initiative extends beyond a single exploration well. Discoveries in deepwater basins typically require substantial investment and advanced drilling technologies, but they also have the potential to create large, long-life hydrocarbon assets capable of sustaining production for decades. As India continues to import a significant share of its crude oil and natural gas requirements, successful development of deepwater resources could improve energy self-reliance, strengthen the country's balance of payments and reduce its exposure to global supply disruptions and oil price volatility. While commercial production will depend on the outcome of exploration and appraisal activities, the commencement of drilling in the Mahanadi Offshore Basin marks an important step towards unlocking India's next major hydrocarbon frontier and advancing the country's long-term energy security objectives.

8. India's US$1 Trillion export ambition: a milestone within reach

India is steadily progressing towards its ambitious target of achieving US$1 trillion in exports of goods and services, reflecting the country's growing integration with global markets and the increasing competitiveness of its export sector. Total exports reached US$0.87 trillion in FY 2025-26, accounting for 22.2 per cent of GDP. To achieve the US$1 trillion milestone during FY 2026-27, exports would need to grow by approximately 15.3 per cent, a target that appears attainable given the strong momentum witnessed during the first quarter of the fiscal year.

India's export performance has evolved considerably over the past two decades. While exports of goods and services peaked at 26.1 per cent of GDP in FY 2013-14, they have subsequently remained in the range of 19.3-22.4 per cent, reflecting the impact of a more fragmented global trading environment characterized by geopolitical tensions, supply-chain disruptions and rising tariff and non-tariff barriers. Despite these challenges, the country's export base has continued to expand, demonstrating resilience amid changing global trade dynamics.

A notable structural transformation has been the rapid expansion of services exports, which are increasingly complementing merchandise trade. The share of merchandise exports in total exports has declined from 73.6 per cent in FY 2000-01 to 51.4 per cent in FY 2025-26, while the contribution of services exports has increased to 48.6 per cent. High-value services, particularly telecommunications, computer and information services, along with other business services such as research and development, professional consulting and technical services, have emerged as major drivers of export

July 2026