Technical contributions from Anupam Manur, Research Fellow, and Rohan Seth, Policy Analyst at Takshashila Institution were acknowledged by MP Shashi Tharoor in The Indian Express.
Given the crashing oil prices, the article talked about the need to fill up India’s Strategic Petroleum Reserves and introducing transparency in the holdings as well as the mobilisation process. While the Union Government claims that they have a capacity for 87 days of reserves, capacity does not directly translate into utilisation.
According to research by Takshashila, there is value in considering diversifying India’s portfolio and storing SPR abroad as a resource. For instance, holding stocks abroad in Trincomalee, Sri Lanka, and in facilities Oman. In addition, India could use existing SPR capacity to hold stocks for other countries.