Miscellaneous - This Day That Age   

dated December 4, 1958: ECAFE symposium

India would have to find her own source of mineral oil supply if she intended to industrialise even in a moderate measure, said Mr. K.D. Malaviya, Minister for Mines and Oil, Government of India, while inaugurating the symposium on the ‘Development of Petroleum Resources of Asia and the Far East’, in New Delhi on December 3. The country was dependent upon foreign supplies of crude oil to the extent of about 90 per cent of her requirements. “There seems to be no doubt that India’s future depends on a rapid increase of our own mineral oil production,” he said. The convening of the present symposium exclusively to deal with the development of the petroleum resources in the ECAFE region bore testimony to the “importance attached to oil which is bound to play a vital part in the industrial progress of these countries,” he added.

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