Diplomatist Magazine Diplomatist October 2019

SPECIAL REPORT held by Prime Minister Narendra Modi, the meeting was aimed at reviewing the progress of key infrastructure sectors like power, renewable energy, petroleum and natural gas, coal and mining. During the meeting, the CEO said that the installed power generation capacity in India increased to 344 GigaWatts (GW) and its energy deﬁ cit stood at over 4 per cent in 2014, which has been declined to less than one percent in 2018. However, India’s developmental strategy indicates that there would be a huge energy deﬁ cit. So, India’s energy sector is set for a mammoth change with recent developmental ambitions of the Government of India. The government aimed to reach 175 GW of installed capacity of renewable energy by 2022, 24 X7 Power for all Indians by 2022, housing for all by 2022, 100 smart cities mission. These indicators say that India is envisaged to play a key role in the global energy scenario amidst the present trends in the favour of energy buyers rather than suppliers which are likely to continue in the medium term. Further, India is likely to account for 25 percent of the rise in global energy demand by 2040. The way forward So to cement the relationship between two countries when India’s Prime Minister visited Bishkek in June 2019 for attending SCO Summit and met with Russia’s President Vladimir Putin and underscored that they want to strengthen and further bilateral cooperation. After the meeting, while brieﬁ ng the reporters, India’s foreign secretary Vijay Gokhale said that Russia’s President Putin has invited India’s Prime Minister Narendra Modi formally to be the main guest for the Eastern Economic Forum at Vladivostok in early September. For that, India’s Prime Minister Narendra Modi accepted warmly accepted the invitation. Furthermore, Modi informed that India will do a serious preparation for the meeting to ensure its participation fruitfully. But, before that India’s business delegation and representatives of key Indian states will visit Vladivostok and Russian Far East prior to Modi’s visit to identify to work on potential areas of business collaboration. As India is depended more on its external allies in the international market for its oil and gas needs, the Far East could be extremely resourceful for India’s population growing fast and it would be around 18% of the total global population. To meet all these people energy needs India certainly aims to reduce its energy poverty in a sustainable manner keeping in mind its impact on India’s economic growth. it besides a plethora of other minerals and timber, said by Gokhale. India’s population growing fast and it would be around 18% of the total global population. To meet all these people energy needs India certainly aims to reduce its energy poverty in a sustainable manner keeping in mind its impact on India’s economic growth. Further, On July 3, 2019, India’s Petroleum Minister Dharmendra Pradhan held a telephonic conversation with Russia’s energy minister Alexander Novak on further strengthening of energy relations between two countries. During the conversation, Pradhan argued with Russia that it should play a balancing role in its engagement with the Organization of the Petroleum Exporting Countries by taking into account the interests of consuming countries. Pradhan also shared India’s concern on the growing crude oil price volatility during the few weeks. Further, Pradhan invited Russia to invest in hydrocarbon sector recognizing that India and Russia are one of the largest investors in each other countries hydrocarbon sector. And Russian oil and gas companies to were asked to invest in building gas infrastructure in India in the expansion of city gas distribution networks. Conclusion In contemporary world aﬀ airs both India and Russia are an important role to play because India and Russia share a common vision for making this world just, democratic, equal and inclusive world. As part of strengthening their relations, both India and Russia diversify their cooperation to meet evolving global geopolitics. The possible area for increasing it is trade and energy cooperation. As trade is very minimal in between India and Russia, it should be cemented in human resources, technology sharing, nuclear technology cooperation, increasing tourism, people to people contact, frequent business summits should take place. The energy relationship should be more diversiﬁ ed by bringing, Venezuela, Vietnam and invest in Arctic region jointly by sharing modern technology.  *Author is Assistant Professor Humanities and Social Sciences Gitam School of Gandhian Studies GITAM (Deemed to be University) Visakhapatnam, Andhra Pradesh Extraordinary and Plenipotentiary Diplomatist • Vol 7 • Issue 10 • October 2019, Noida • 23

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