With an import bill of nearly $1 tn - about a quarter of its GDP - India remains deeply dependent on external supply chains for its most fundamental needs. Aatmanirbharta will depend not just on reducing imports but also on fundamentally reshaping our growth model. Going green may be a powerful lever to do so.
Nearly 85% of India's crude oil requirement is met through imports. Natural gas imports, particularly LNG, have grown to almost 50%. Even in coal, where India has abundant reserves, imports remain substantial for high-grade coking coal required in steel production.
India also has a huge import dependence for metals and minerals. More than 90% of its copper concentrates are imported. All its lithium, cobalt and nickel are imported. Even modern materials, ranging from plastics to packaging to paints to polymers, largely depend on petrochemical intermediates as primary feedstock. Here, too, India is directly or indirectly reliant on imports by up to 90%.
Also Read: India's trade deficit pressures could persist through 2026 as electronics imports surge, export outlook stays fragile
While the country is food secure, underlying reliance on import-dependent fertilisers tells a different story. All of potash, a key fertiliser, is imported. Almost 80% of urea production is dependent on imported gas. Emerging industries like electric mobility, RE, semiconductors and advanced manufacturing also depend on mineral imports. These resources are geographically concentrated and often controlled by a small number of countries, with tightly integrated supply chains. This creates a different kind of strategic vulnerability.
India's ability to secure resources and reduce structural dependence is an imperative for long-term stability. It will require a comprehensive and coordinated approach.
Diversify supply sources The country has demonstrated agility in sourcing resources from multiple regions. This approach should continue and expand for energy, critical metals and minerals, as well as feedstocks for modern materials.
International partnerships Indian companies must build JVs where domestic resources, technology or knowhow are not readily available, instead of merely relying on imports. This can help build lasting domestic capabilities in new and emerging industries. Alongside partnerships, accelerating domestic exploration and production through policy reform remains essential.
Mainstream green economy This can reduce import dependence while strengthening economic security. A November 2025 Council on Energy, Environment and Water (CEEW) study estimates that India's green economy could attract $4.1 tn in investments and create 48 mn jobs by 2047.
Also Read: India’s trade deficit widens to $28.38 billion in April as imports surge amid Gulf conflict
For energy security, scaling biofuels and renewable-powered mobility can displace crude oil imports, unlocking a $3.8 tn opportunity. For food and materials, bioeconomy can harness India's 700 mn tonnes of biomass, largest in the world, to reduce fertiliser imports, diversify rural incomes and build more resilient supply chains.
For minerals and materials, a circular economy must become a strategic pillar. Recycling batteries, developing urban mining capabilities, and recovering critical minerals and metals from waste can significantly improve self-reliance. According to CEEW estimates, circularity in merely 7 value chains could unlock a market opportunity worth $132 bn by 2047.
Innovation & tech Research in areas such as alternative battery chemistries, green hydrogen, advanced materials, and sustainable chemicals and fertilisers can reduce reliance on scarce resources.
India must invest in over-the-horizon green technologies, support translational research and expand early-stage risk capital. The R&D and innovation funding architecture must not look at green technologies as merely a societal good.
Emerging green solutions often require scale to reach price parity with conventional solutions. Public procurement (as seen with LEDs and e-buses), procurement mandates (such as renewable purchase obligations and ethanol-blending targets), and voluntary corporate commitments (including initiatives like EV100 or RE100) can be efficient levers to build early demand for green products and services.
Entrepreneurship beyond startups Indian SMEs can be a major driver for the green economy. So, green entrepreneurship must be supported through long-term working capital, green certifications and market access for B2B segments.
By pursuing this multi-pronged pathway, India can demonstrate that economic progress, environmental stewardship and strategic autonomy can reinforce one another, offering a compelling model for a world seeking more resilient and sustainable pathways to development.
Ramadorai is former CEO-MD, TCS,and Jain is fellow-director, CEEW
Nearly 85% of India's crude oil requirement is met through imports. Natural gas imports, particularly LNG, have grown to almost 50%. Even in coal, where India has abundant reserves, imports remain substantial for high-grade coking coal required in steel production.
India also has a huge import dependence for metals and minerals. More than 90% of its copper concentrates are imported. All its lithium, cobalt and nickel are imported. Even modern materials, ranging from plastics to packaging to paints to polymers, largely depend on petrochemical intermediates as primary feedstock. Here, too, India is directly or indirectly reliant on imports by up to 90%.
Also Read: India's trade deficit pressures could persist through 2026 as electronics imports surge, export outlook stays fragile
While the country is food secure, underlying reliance on import-dependent fertilisers tells a different story. All of potash, a key fertiliser, is imported. Almost 80% of urea production is dependent on imported gas. Emerging industries like electric mobility, RE, semiconductors and advanced manufacturing also depend on mineral imports. These resources are geographically concentrated and often controlled by a small number of countries, with tightly integrated supply chains. This creates a different kind of strategic vulnerability.
India's ability to secure resources and reduce structural dependence is an imperative for long-term stability. It will require a comprehensive and coordinated approach.
Diversify supply sources The country has demonstrated agility in sourcing resources from multiple regions. This approach should continue and expand for energy, critical metals and minerals, as well as feedstocks for modern materials.
International partnerships Indian companies must build JVs where domestic resources, technology or knowhow are not readily available, instead of merely relying on imports. This can help build lasting domestic capabilities in new and emerging industries. Alongside partnerships, accelerating domestic exploration and production through policy reform remains essential.
Mainstream green economy This can reduce import dependence while strengthening economic security. A November 2025 Council on Energy, Environment and Water (CEEW) study estimates that India's green economy could attract $4.1 tn in investments and create 48 mn jobs by 2047.
Also Read: India’s trade deficit widens to $28.38 billion in April as imports surge amid Gulf conflict
For energy security, scaling biofuels and renewable-powered mobility can displace crude oil imports, unlocking a $3.8 tn opportunity. For food and materials, bioeconomy can harness India's 700 mn tonnes of biomass, largest in the world, to reduce fertiliser imports, diversify rural incomes and build more resilient supply chains.
For minerals and materials, a circular economy must become a strategic pillar. Recycling batteries, developing urban mining capabilities, and recovering critical minerals and metals from waste can significantly improve self-reliance. According to CEEW estimates, circularity in merely 7 value chains could unlock a market opportunity worth $132 bn by 2047.
Innovation & tech Research in areas such as alternative battery chemistries, green hydrogen, advanced materials, and sustainable chemicals and fertilisers can reduce reliance on scarce resources.
India must invest in over-the-horizon green technologies, support translational research and expand early-stage risk capital. The R&D and innovation funding architecture must not look at green technologies as merely a societal good.
Emerging green solutions often require scale to reach price parity with conventional solutions. Public procurement (as seen with LEDs and e-buses), procurement mandates (such as renewable purchase obligations and ethanol-blending targets), and voluntary corporate commitments (including initiatives like EV100 or RE100) can be efficient levers to build early demand for green products and services.
Entrepreneurship beyond startups Indian SMEs can be a major driver for the green economy. So, green entrepreneurship must be supported through long-term working capital, green certifications and market access for B2B segments.
By pursuing this multi-pronged pathway, India can demonstrate that economic progress, environmental stewardship and strategic autonomy can reinforce one another, offering a compelling model for a world seeking more resilient and sustainable pathways to development.
Ramadorai is former CEO-MD, TCS,and Jain is fellow-director, CEEW
(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.)
S Ramadorai
The author is former CEO-MD, TCS
Abhishek Jain
The author is fellow-director, CEEW