India's Energy Policy: National Interest at the Forefront Amidst Global Volatility

Foreign Secretary Vikram Misri emphasizes India's energy decisions are led by national interests, focusing on availability, pricing, and supply reliability. Despite reports of reduced Russian oil imports, India's diversified sourcing strategy remains, ensuring consumer protection amidst global energy market volatility.

Foreign Secretary Vikram Misri has reaffirmed that India's energy-related decisions are rooted in national interest, highlighting the focus on adequate availability, fair pricing, and reliable supply. This statement comes amid speculations of New Delhi scaling back on oil imports from Russia.

During a Special Briefing by the Ministry of External Affairs, Misri emphasized that the energy sector's decisions are determined by national priorities, with oil companies making procurement based on market conditions, including risk and cost analyses, and logistics. He stressed the importance of balancing financial and logistical considerations in maintaining a stable energy supply.

Misri noted India's dependence as a net importer for 80-85% of its oil and gas, stressing the government's priority to shield Indian consumers from inflation driven by import costs. He spoke about India's role in stabilizing global energy markets by diversifying its import sources, ensuring stable and secure energy access.

(With inputs from agencies.)