New Delhi, May 18 -- As India battles soaring energy import costs and a weakening rupee amid global oil turmoil, a Monaco-based fuel technology company says it may have found an answer hiding in plain sight: water.

FOWE Eco Solutions, through its patented Cavitech fuel emulsion technology, claims industries can slash fuel consumption by up to 10 per cent, reduce harmful emissions dramatically, and improve equipment performance - all without modifying engines or shutting plants down.

The pitch comes at a critical time for India. The country imports nearly 88 per cent of its crude oil needs, while state-run oil firms are reportedly bleeding Rs.1,000 crore a day to shield consumers from global price shocks.

Prime Minister Narendra Modi ha...