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General (retd.) V.K. Singh, Minister of State of External Affairs, India, delivered the closing keynote address at India’s first Gateway of India Dialogue conference in Mumbai, organised in association with the Ministry of External Affairs. Singh's speech discussed India's changing geopolitical position and the role it seeks to play in the world in order to achieve its goals.
Courtesy: Gateway House
Dharmendra Pradhan, Minister of State for Petroleum and Natural Gas, delivered the keynote during the Power Dialogue on The Geopolitics of New Energy at India’s first Gateway of India Dialogue conference in Mumbai, organised in association with the Ministry of External Affairs. Pradhan's speech discussed the changing trends of energy in the world and how India was positioning itself to have the advantage.
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India has applied to be a member of the Nuclear Suppliers Group, but its ambition is being thwarted by China. However, developments in renewable energy mean China’s veto will have little impact on India’s clean energy push.
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India needs to act faster to ensure it continues to get energy at an affordable price. The oil price increase to $50 per barrel shows there is a limited window of time to act.
Courtesy: Wikipedia
Relatively low fossil fuel prices have created a favourable climate for the Modi government to secure India’s growing energy needs in a sustainable manner and at fair prices. The government should also encourage locally-built wind and nuclear options to secure India’s long-term needs.
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The U.S. and Canada offer an opportunity for India to acquire large scale oil and gas fields in politically stable countries at a low price. A financial investment in energy companies will protect India against a rise in energy prices without raising concerns in host countries.
Courtesy: Whitehouse.gov
Once the fourth and final global Nuclear Security Summit is held this week in Washington, D.C., the challenge will primarily be for bureaucrats to continue working and keep leaders engaged on nuclear security. Inertia on this issue, especially when there is growing intelligence on security breaches, could be deadly.
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After the recent WTO ruling against India on the issue of local content of solar panels, India must revise its renewable energy strategy in favour of wind power. Instead of imported solar panels, India’s renewable capacities can use locally-manufactured windmills.
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The WTO judgment on the India-U.S. dispute on solar panels shows how rules across different international regimes – climate change, trade and nuclear power – favor the countries which set those rules. India must deepen its participation in such multilateral fora to protect its interests.
Courtesy: Wikimedia
Saudi Arabia, Russia and other oil producers are trying to cap oil production to support prices. Such distortions are unlikely to work. India should be more concerned about the long term rise in oil prices due to falling investment in exploration and production – and should protect itself by acquiring oil and gas assets to cover its energy needs.