An in depth review of India's Energy Policies report by International Energy Agency (IEA) was launched in New Delhi today. India is now the third largest energy consumer in the world. India is in the midst of a major transformative shift in its energy sector. The energy polices already put in place by the Government and also those on the anvil, clearly demonstrate our determination to embrace this energy transition in a sustainable and responsible manner.
IEA has noted that during the period 2015 to 2018, investments in the energy sector in India recorded the second highest growth in the world. Report acknowledges Government's efforts in making energy security as a prime policy priority, and recognizes the efficiency achieved due to Government's relentless march in undertaking tectonic reforms in the energy sector and continued pursuit of market-based solutions.
IEA's recommends reinforcement of India's oil emergency response policy. Enhancing international engagement on global oil security issues is already an active goal being pursued by my Ministry. Energy has become an essential commodity in our bilateral trade engagements with several key trading partners and in positioning India as an important strategic player in global energy landscape.
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