Price and supply volatility: Addressing global energy security needs

Prime Minister Narendra Modi inaugurated the India Energy Week (IEW) 2023 on Monday. Participants from different countries gathered to discuss the most pressing issues in the energy market.

Rosneft Chief Executive Officer Igor Sechin also visited IEW 2023 and participated in a ministerial session. The topics discussed at the session were price and supply volatility, and energy cooperation between Russia and India.

According to the IMF’s recent estimates, India and its neighbours will account for half of global economic growth this year. In contrast, the contribution of the US and the Eurozone will amount to only 10 per cent. India’s “enlightened national interest” principles are highly respected.

Based on these principles, the government implements an independent, pressure-free economic policy in harmony with its partners. Cooperation opens up new horizons.

India, as the world’s most populous nation, has become a leader in global economic dynamics, demonstrating rapid improvements in the lives of its people. It is a big country with a young, ambitious population, where dynamics are of the utmost importance.