The Indian government has affirmed that energy security ranks among its foremost priorities, implementing comprehensive measures to guarantee affordable energy access for citizens, External Affairs Minister S Jaishankar informed the Lok Sabha in a written response. This strategy encompasses diversifying energy supply sources, boosting domestic oil and gas production, promoting alternative energy options, and accelerating the shift toward sustainable energy. These steps come in response to escalating global tensions, including the Russia-Ukraine conflict and West Asia instability, which have disrupted international energy markets and prompted Western sanctions affecting India's imports.
Jaishankar highlighted the government's proactive monitoring of geopolitical developments to protect national interests at bilateral, regional, and global levels. He noted that decisions on energy sourcing consider market dynamics like pricing and availability, while engaging stakeholders to address potential impacts. For instance, India has significantly ramped up Russian oil imports since 2022, making Russia its top supplier by 2024, accounting for over 40 percent of crude imports to offset higher costs elsewhere and maintain affordability. This approach has helped stabilize domestic fuel prices despite volatile global benchmarks, with crude oil averaging around USD 80 per barrel in early 2025.
The minister also addressed recent US actions, including President Donald Trump's imposition of 25 percent reciprocal tariffs effective August 7, 2025, followed by an additional 25 percent levy on India's Russian oil purchases, set to begin August 27, totaling 50 percent duties. The government has raised concerns with the US about these sanctions' effects on petroleum imports from Russia and Iran, emphasizing the need to safeguard India's energy needs. To counter such pressures, India is enhancing ties with alternative suppliers like Saudi Arabia, Iraq, and the UAE, while investing in strategic petroleum reserves that now hold over 5 million metric tons to buffer against supply shocks.
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On the domestic front, efforts to increase oil and gas output include major initiatives by Oil and Natural Gas Corporation (ONGC) and private players, targeting a 20 percent rise in production by 2030 through advanced exploration in offshore basins like the Krishna-Godavari. The push for alternatives has seen renewable energy capacity surpass 180 GW by mid-2025, with solar and wind projects contributing significantly under the National Solar Mission. Jaishankar reiterated the government's commitment to diplomatic resolutions for conflicts, offering support through dialogue to mitigate broader impacts on economic relations.
Additionally, the response covered safety measures for Indian nationals in conflict zones, with the government prioritizing their well-being through 24x7 helplines, social media outreach, and evacuations as needed. Over the past year, thousands of students and workers have been repatriated from areas like Ukraine and the Middle East, guided by evolving situations and coordination with foreign governments. This holistic approach underscores India's resilience in navigating global challenges while advancing toward energy independence.
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