Abstract
Energy is a necessary prerequisite to growth and development of emerging India. India has an Integrated Energy Policy to ensure that energy needs of its citizens are met. It has a Hydrocarbon Vision 2025 to guide its oil and gas exploration and production, supply and trade, and consumption and conservation. Securing adequate imports of oil and gas to meet its burgeoning needs is a major policy objective of the Government of India, driving the mission of its Ministry of Petroleum and Gas. Economic and trade ties of India with OPEC members and other oil and gas producers have prospered. Many of these suppliers are members of various coalitions of India in the WTO. In the event that negotiations commence on trade and energy security, such cooperation will be mutually rewarding. This chapter analyzes the composition and India’s energy policy and trade, functioning of trade regimes of OPEC members, and some other main suppliers of oil and gas to India with a view to offer a positive agenda for such negotiations. It concludes inter alia that India has much in common with members of the WTO from the Middle East to develop a common agenda on energy security and tariffs for primary oil and gas and petroleum products.
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