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Close alignment between India, Africa key to strong bilateral foundation: Krishna | Urging Indian and African government leaders, policy makers, senior executives, energy consultants and investors to address issues like the volatility in the oil and gas markets, promoting energy trade
and investments, the information gap between energy suppliers and consumers and protecting the transportation and transit of oil and gas, External Affairs Minister
SM Krishna said on Monday that India continues to be inspired by the irrepressible urge to make good with Africa and its peoples. Addressing the inaugural session
of the Second India-Africa Hydrocarbon Conference, Krishna said: "Our common legacy
nurtures a close alignment on major international issues and an abundance of socio-political
goodwill gives our bilateral relations a strong foundation." "The future beckons
that we build on this solid foundation of goodwill and friendship, a superstructure
of mutually beneficial economic and commercial cooperation," he added. Dwelling
on the global fiscal crisis, he said it has caused considerable collateral damage
to the global energy and food security, and emerging and developing countries
who were not the cause, were being condemned to reap the repercussions of this
crisis. Reiterating that India is now past the worst and adding that the fundamentals
of the Indian economy are strong, Krishna said: "We are confident that before
long our economy would scale the nine percent growth trajectory achieved before
the economic downturn." He also said that India remained hopeful about success
at Copenhagen in achieving an outcome, containing substantive and enforceable
commitments, which are equitable and supportive of economic growth, especially
in developing countries. He also said that the new global claimants for oil are
now located in Asia, including India , where a rapidly growing economy is driving
our demand for energy. " India would need to depend upon 90 percent oil and 60
percent gas imports by 2030-31. Presently, about 15 percent of India 's crude
oil imports came from Africa , but we can do with more," he saod. "Apart from
being an obvious long-term market for African hydrocarbons, India is also globally
recognized as a hub for business opportunities spread across the entire hydrocarbon
production cycle. India is a oil refining centre, exporter of petroleum products
and home to competitive hydrocarbon multinationals, which have made their presence
felt all over the world, including in Africa . As the fastest growing democracy
we offer a complementary and mutually advantageous hand of partnership to our
friends in Africa 's hydrocarbon sector," he added. He said the spread of global
hydrocarbon reserves is uneven, and this had vitiated international relations.
He asked in conclusion: "The choice is in our hands. Do we continue to treat hydrocarbon
assets as a zero-sum game or in the true spirit of globalization ensure that they
become part of a truly global, integrated, open and competitive energy market
for the mutual and long term benefit of producers and consumers? Dr. Emmanuel
Egbogah, Presidential Adviser on Energy Matters, Nigeria, ministers and delegates
from Africa, Petroleum and Natural Gas Minister Murli Deora, Minister of State
for Petroleum and Natural Gas Jitin Prasada, Vivek Katju, Secretary (West), Ministry
of External Affairs and others were also present on the occasion. |
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