The Financial Express. Indian experts estimate that the countrys crude oil reserves will be exhausted in less than 20 years.
Lets look at some charts. (Click on image to enlarge.) To the right is a plot, based on BPs annual statistical review, of Indian oil production since 1965. It certainly appears to have plateaued. Less than 10 years might be too optimistic.
Next is a plot of Indian oil consumption versus domestic production. You can see that the import gap is quite large, and presumably will continue to widen. Hence, the emphasis within Indian on alternative sources of energy (post upcoming on that) and fuel, including a strong push on biofuels. India, like China, wants to grow to serve its enormous population.
Harsh, but pragmatic, in service of a rapidly developing country with not much margin for error. We could take some lessons as to the benefits of conservation and efficiency.