Report by India (WT/TPR/G/249): I.INTRODUCTION: (Page 5, paragraph 3)
The report indicates that India faces enormous challenges in several areas, one of which is energy security. We note that the Indian government has taken various policy initiatives in order to tackle this particular challenge.
Could India please elaborate further on its energy security policy and its energy policies associated with trade?
Reply: Efficient and reliable energy supplies are a precondition for accelerated growth of the Indian economy. Oil and gas constitute around 45% of the total energy consumption. At the same time, the dependence on imports of petroleum and petroleum products continues to be around 80% of total oil consumption in the country. While the energy needs of the country, especially oil and gas, are going to increase at a rapid rate in the coming decades, the indigenous energy resources are limited.
The broad vision behind the energy policy is to reliably meet the demand for energy services of all sectors at competitive prices. Meeting this vision requires that India pursues all available fuel options and forms of energy, both conventional and non conventional. India must seek to expand its energy resource base and seek new and emerging energy sources. Most importantly, India must pursue technologies that maximise energy efficiency, demand side management and conservation.
The emphasis is on domestic oil exploration; acquisition of oil production assets abroad, developing new and renewable energy, development and promotion of the production and use of bio fuels and on the use of solar energy.
