"Certain international lobbies like Vodafone are spreading this kind of a story and Mr Obama was not properly informed of the things that are happening, particularly when India's economic fundamentals are strong, " Mr VeerappaMoily said.
Oil minister VeerappaMoily said the government aims to cut the country's import dependence by half by 2020 and make it completely nil by 2030 and would encourage more private investment in the sector to boost local hydrocarbon output.