India Is Moving Beyond Conventional Energy And Its Traditional Energy Partner
India is increasingly looking to develop energy links with its neighbouring countries. The Indian Prime Minister Narendra Modi while attending the 16th International Energy Forum has informed, “At 4.3% Compounded Annual growth Rate (CAGR), India is the fastest growing energy consuming nation and will be a key driver of global energy demand over the next 25 years.”
The Modi government is focusing on two main strategies to strengthen the country’s energy sector. First, India is looking to boost alternative energy sources to reduce its dependence conventional power. Secondly, it is looking to forge new relations with neighbouring countries like Mauritius, Indonesia and Sri Lanka to reduce its dependency on the OPEC for oil. The Indian government has recently launched the International Solar Alliance (ISA). During its launch, Modi stated that the launch of this programme is a step towards fulfilling the commitment of curbing emissions and climate change in India. According to the IEA, “India's reliance on oil imports may rise above 90% by 2040, requiring constant vigilance as to the implications for energy security.”
Recent Indian energy tie-ups
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