India, the world’s third-largest oil consumer has now joined International Energy Agency (IEA) as an associate member. India’s entry into this elite energy group was jointly announced by IEA executive director Mr. Fatih Birol, Petroleum and Natural Gas Minister Mr. Dharmendra Pradhan and Minister of State with Independent Charge for Power, Coal, New and Renewable Energy and Mines, Mr. Piyush Goyal.
About International Energy Agency (IEA):
IEA was formed in year 1974 as a response to 1973 Oil crisis triggered by OPEC countries’ proclamation of an oil embargo. It is an autonomous intergovernmental organisation.
- IEA’s role is to advise member countries on Energy Policy. It also collaborates with non-member countries on energy related issues.
- IEA plays an important role of a watchdog in global energy dialogue for the developed world in addition to promoting clean energy and environment protection.
- Besides it also provides insights and recommendation on global energy sector, based on meticulous research and analysis. IEA’s annual publication ‘World Energy Outlook’ is considered to be the most authoritative document on global energy scenario.
Secretariat of International Energy Agency: Paris, France
Executive Director of International Energy Agency: Fatih Birol
India and International Energy Agency (IEA):
Over last twenty years, India did have a considerable engagement with IEA as a partner country. Attaining the status of IEA’s ‘associate member’ will definitely add weightage in its dealings with major oil suppliers and in energy related deliberations. Moreover it will also have an opportunity to get involved in meetings and functioning of IEA.
- With India’s inclusion, IEA now has 70% of world’s energy consumption under its ambit.
- Mr. Piyush Goyal has stated that this development does not impose any obligation on Indian Government and its citizens; rather it will open doors for India’s involvement in key committees of IEA and India will be the voice of emerging markets in global energy dialogues.
- He further added that India, in association with IEA is keen to take forward International Solar Alliance Framework to other countries of the world.
- Mentioning about India’s growing influence in Global Energy landscape, IEA’s Executive Director Mr. Fatih Birol considers India’s inclusion as a noteworthy achievement for IEA.
- He highlighted India’s successful track record in attaining energy efficiency, renewable power generation and initiatives aimed at providing 24X7 power supplies to its population.
- This development will be a new tool in hands of Indian diplomats during International energy negotiations.