Model Answer:
India’s energy security is crucial for its economic growth, considering its rapid industrialization and population growth. With a population exceeding 1.4 billion, the energy demand continues to surge, necessitating robust partnerships with energy-rich nations. Among these, West Asian countries play a pivotal role in ensuring India’s energy needs are met.
India is one of the largest importers of crude oil, with West Asia supplying about 60% of its total oil imports. In 2022-23, India imported approximately 202 million tonnes of crude oil, of which around 35% came from Iraq, 28% from Saudi Arabia, and 8% from the UAE. These countries are vital for India’s energy security as they provide not only oil but also gas, which is increasingly important for India’s transition to cleaner energy.
India has fostered strong strategic partnerships with West Asian nations to secure its energy needs. The India-UAE Comprehensive Strategic Partnership aims to enhance cooperation in areas like energy security. The UAE has invested significantly in India's renewable energy sector, with initiatives like the International Solar Alliance promoting solar energy development.
Similarly, the Saudi-India Vision 2030 aims to diversify and strengthen economic ties, with a focus on energy collaboration. This partnership is crucial as Saudi Arabia is not only a leading oil supplier but is also transitioning towards sustainable energy, which aligns with India’s renewable energy goals.
Indian oil companies, such as ONGC Videsh and Indian Oil Corporation, have invested heavily in oil exploration and production in West Asia. For instance, ONGC Videsh has stakes in oil fields in Oman and the UAE, ensuring long-term supply agreements that contribute to India’s energy security.
In conclusion, India’s energy security is inextricably linked to its economic growth, with West Asian countries playing a crucial role in meeting its energy demands. Through strategic partnerships, joint ventures, and investments, India is not only securing its energy supply but also promoting regional cooperation in the energy sector. Continued collaboration with West Asia is essential for India’s journey towards sustainable and secure energy in the future.
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