India-US Strategic Energy Partnership
GS Paper - 2 International Relations
India and the United States have agreed to revamp their strategic energy partnership to focus on greater collaboration in cleaner energy sectors such as biofuels, and hydrogen production, an Indian government said in a statement on 29 March 2021. The statement was issued after a virtual meeting of Indian oil minister Dharmendra Pradhan and U.S. Energy Secretary Jennifer Granholm.
- The two countries will intensify efforts to take advantage of advanced U.S. technologies and India's rapidly growing energy market.
- The United States overtook Saudi Arabia as India's second biggest oil supplier after Iraq last month.
- India and the US decided to revamp the existing energy cooperation framework to focus more on clean energy keeping advanced American technology and the rapidly growing Indian energy market in mind to reflect new priorities set by Prime Minister Narendra Modi and President Joe Biden.
- India and US have decided to revamp the India-US Strategic Energy Partnership (SEP) accordingly and convene the third meeting of the revamped SEP at an early date.
- Earlier, two SEPs were [held under the Trump Administration], where the focus of energy cooperation was more on supply of fossil fuels from America rather than cooperation in reducing carbon footprints. While the import of fossil fuel from the US will continue, Washington will support India’s efforts for clean energy.
- The inaugural SEP, a ministerial meeting, was first held on April 17, 2018. Its second meeting took place on July 17, 2020.