Foreign Secretary Vikram Misri on Monday dismissed rumors of scaling back Russian crude imports post-US trade deal announcement, affirming that all Indian energy decisions stem from national imperatives like diversification and affordable pricing.
Speaking in New Delhi, Misri highlighted the criticality of stable, low-cost energy for India’s burgeoning economy, which imports over four-fifths of its requirements. Such heavy reliance risks fueling inflation, making consumer protection paramount.
‘Our policy ensures energy reaches consumers reliably, sufficiently, and at competitive rates,’ Misri stated. He emphasized India’s dual role as a top consumer and market stabilizer amid global flux.
Energy procurement, handled by state and private refiners, adapts to market realities while upholding availability, affordability, and reliability. ‘Every entity, governmental or corporate, operates in service of national interests,’ Misri asserted confidently.
In related news, Petroleum Minister Hardeep Singh Puri assured the upper house that India’s strategic stockpiles—4.094 million metric tonnes at 77% capacity—cover 74 days of needs in disruptions. As the globe’s third-largest consumer and fourth refiner, India’s capacity has grown to 320 million metric tonnes yearly, bolstering resilience.