MUMBAI, India  The British oil giant BP said on Monday that it would pay $7.2 billion to buy into India’s fast-growing oil and gas industry. It is BP’s second big deal in two months, as it seeks to rebuild after last year’s Gulf of Mexico oil spill.

BP will take a 30 percent stake in 23 oil and gas fields operated by Reliance Industries, India’s largest private company. Reliance will receive an additional $1.8 billion if the companies find more oil and gas than expected.

The companies also said they would create a 50-50 joint venture to buy, transport and market natural gas, which is increasingly in demand in India as the country’s economy grows at nearly 9 percent a year.

Last month, BP signed an agreement with Russia’s Rosneft to drill in the Arctic. That deal, worth $7.8 billion, was the first big investment by BP after its oil spill in the Gulf of Mexico last year, which resulted in an estimated $40 billion in damage claims.