Given our core scenario for Prime Minister Narendra Modi’s National Democratic Alliance (NDA), led by the Bharatiya Janata Party (BJP), to secure the most number of seats in the upcoming Lower House elections, we expect to see policy continuity in India’s oil and gas sector over the coming years. Modi’s targeted deregulation of domestic oil and gas has seen partial success, but we expect to see more progress in this area over the coming years as India seeks to attract the foreign investment it needs to push through developments across the industry. Another prominent objective of Modi has been to increase access to and consumption of clean energy such as natural gas and renewables, and policies on this front are likely to gain greater traction over the coming years, as India strives to cut air pollution and curb coal use.
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