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Oil and gas sector is among the eight core industries in India and plays a major role in influencing decision making for all the other important sections of the economy. India's economic growth is closely related to its energy demand, therefore, the need for oil and gas is projected to grow more. In the last couple of years, the government has undertaken several forward-looking policy initiatives to drive investments and enhance transparency across the O&G value chain. Hydrocarbon Exploration Licensing Policy with Open Acreage Licensing Policy was introduced that allows E&P companies flexibility to select blocks of their choice and shift to the revenue-sharing model from the PSC model. Further, with an aim to boost production from marginal fields, Discovered Small Field policy was introduced. Enhancement of City Gas Distribution networks is also on the priority list as there has been an increase in the number of Geographical Area (GA) licenses. ASSOCHAM National Councils on Hydrocarbon regularly take up National and Global issues of prime importance to the interests of its members. It continuously interacts with the Central and State Governments and play an important role in the shaping various policy formulation.

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