Indian coast guard officials confirmed that 341 people had been rescued while at least 45 others remain missing.
Initial reports indicated the fire may have started when a drilling vessel was swept into the platform by high monsoon winds, a government source told Reuters.
Some people jumped into lifeboats to escape the flames and get to platforms nearby after fire broke out at about 4:30 pm (1100 GMT), said Oil Minister Mani Shankar Aiyar.
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