National Interest Over Global Pressure: Vikram Misri Outlines India's Energy Strategy
Misri explained that as a developing economy and a major net importer, India must remain alert to energy security and inflationary pressures
National Interest Over Global Pressure: Vikram Misri Outlines India’s Energy Strategy
Foreign Secretary Vikram Misri on Monday stated that India’s energy sourcing decisions are strictly guided by national interest. He emphasised that the government prioritises the affordability, availability, and reliability of supplies. These remarks come shortly after US claims that India had ceased purchasing Russian crude oil.
Misri explained that as a developing economy and a major net importer, India must remain alert to energy security and inflationary pressures. With India importing 80-85% of its energy, he noted that the primary goal is to protect domestic consumers by ensuring secure supplies at appropriate prices.
Addressing global market volatility, Misri highlighted diversification as a central pillar of India's policy. He clarified that India imports oil from dozens of nations and does not intend to rely on any single source. He further described India as a stabilising force in global energy markets, noting that secure supplies are a shared international interest.
The Foreign Secretary also clarified that actual procurement decisions are made by public and private oil companies. These entities evaluate a "complex matrix" of factors, including cost, risk, logistics, and financial considerations. Misri concluded that whether at the government or business level, national interest remains the fundamental guiding principle for India’s energy choices.
Source: The Tribune