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The environmental protection law has not been revised since it took effect in 1989.
The premier said last week in Brunei that China is on track to achieve its GDP target.
The Indian prime minister was addressing the Moscow State Institute of International Relations on Monday.
The Libra field is estimated to hold as much as 12 billion barrels.
China National Petroleum Corp (CNPC) is China’s top oil and gas producer and owns the pipelines.
The Indian prime minister has left for crucial state visits to Moscow and Beijing.
India and China are also expected to sign a key border defence agreement during Singh’s visit.
Raw sugar prices jumped more than 6 per cent to a one-year high before stabilising at 2.6 per cent gain.
Russia is the world's top oil producer while China is the biggest oil importer.
The American ship was detained off the Tuticorin coast last weekend by the Indian Coast Guard.