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India-US to increase co-operation in oil & gas, power, renewable energy: Pradhan

ANI  |  New Delhi [India] 

for and on Tuesday announced that and the have decided to increase their co-operation in oil and gas, power, renewable and coal sectors.

Pradhan and U.S. of Rick co-chaired the inaugural meeting of the U.S.-Strategic Partnership here, which and had announced during their June 26, 2017 Summit in Washington, D.C.

"Under the partnership, the and will pursue four primary pillars of cooperation- Oil and Gas; Power and Efficiency; Renewable and Sustainable Growth; and Coal. Both parties may consider establishing additional pillars of cooperation based on mutual agreement," Pradhan said during the first meeting of the US-Strategic Partnership.

The partnership affirms the strategic importance of cooperation to the U.S.-bilateral relationship and sets the stage for deeper and more meaningful engagements through government and industry channels.

As leading global partners, the and believe that cooperation can serve as a centerpiece in the bilateral relationship.

Through the Partnership, the and collectively seek to enhance security, expand and innovation linkages across our respective sectors, bolster our strategic alignment, and facilitate increased industry and stakeholder engagement in the sector.

and Pradhan led a high-level discussion with senior U.S. and officials that outlined their vision for the Strategic Partnership and key areas of engagement.

The Strategic Partnership elevates the role of in advancing shared goals, including universal access, strengthened security and increased efficiency.

The partnership will create important opportunities for advancing favorable policies and commercial investments in support of these goals, including in markets.

In keeping with the shared objectives to provide a stronger business orientation to our cooperation, both sides noted with appreciation the growing investment of Indian companies in the and the beginning of exports from the to

Recognizing the significance of civilian nuclear for meeting the growing global demands in a cleaner and more efficient manner, and the are engaged in the implementation of the 2008 Agreement for cooperation concerning peaceful uses of nuclear energy, which represents an important milestone in our strategic relationship.

In this regard, the two sides reaffirm their strong commitment to early and full implementation of our civil nuclear partnership, including the civil nuclear project at Kovvada. Cooperation in this area is being pursued through relevant bilateral mechanisms.

The provides a team of U.S. and Indian industry experts with a mandate to propose, develop, and convey, innovative policy recommendations to in support of its vision for in the economy of

The work of the is expected to advance the strategic and economic interests of both the and

Strategic Partnership teams will convene soon to further develop action plans for the respective pillars of cooperation. The U.S. and Indian co-chairs will receive reports from the pillar teams on a regular basis.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 17 2018. 19:25 IST