With the onslaught of an increasingly thriving economy, India is fast becoming a dominant global energy consumer. However, the South Asian country lacks the majority of the natural resources needed and therefore heavily relies on oil imports to meet its rising demand. As of January 2009, India contained 5.6 billion barrels of proven oil reserves, the second-largest amount in the Asia-Pacific region following China, and with vast amounts primarily located offshore. Additionally, India's proven natural gas reserves totaled 38 Tcf as of January 2009. Major domestic producers include state-owned ONGC and Reliance Industries.
Research and Development (R&D) involves the innovation and development of new products and services or the enhancement of existing ones. Usually staffed by engineers or scientists, the R&D department will explore specific interests of an organization working towards future product developments. The Research department is not expected to make an immediate return on investment, but contributes to the future growth of the business.