Oil strategy guided by national interest: Foreign secretary Vikram Misri

NEW DELHI: The government announced on Monday that India's oil sourcing strategy will be firmly guided by national interest, emphasizing a self-reliant approach to energy procurement. Foreign Secretary Vikram Misri stated that India would prioritize its own strategic needs in deciding where to source oil, underscoring a shift towards a more independent energy policy. This move comes at a time when global energy markets are undergoing significant changes, with geopolitical tensions and supply chain disruptions impacting oil availability and prices. India, one of the world's largest oil importers, is keen on diversifying its energy sources to ensure stable and affordable supplies. Misri highlighted that India would seek to balance its energy security with environmental and economic considerations, without being overly reliant on any single country or region. This strategy aims to shield the nation from external shocks and price volatility, fostering a more resilient energy framework. The decision aligns with India's broader economic and geopolitical objectives, as the country seeks to enhance its global standing while meeting its growing energy demands. By focusing on national interest, India aims to strengthen its negotiating position in international markets and secure favorable terms. The government's stance reflects a proactive approach to safeguarding the nation's energy future, ensuring sustainable growth and stability in an increasingly uncertain global landscape.

— Authored by Next24 Live