India's quest for energy security

Abstract

India's energy policy has historically laid special emphasis on energy security, which translated into favouring domestic energy fuel options. Recent growth in demand, fueled by economic growth, far outpaces available domestic resources. In this light, there is a gradual recognition that energy security is more than mere self‐sufficiency, and a modern global energy market invariably involves increased energy trade. Indian domestic crude oil production has stagnated for many years, just when car ownership is becoming a middle‐class aspiration. Even coal, of which India has very large reserves, is difficult to produce and transport, and thus supplies to end‐users are not inherently secure. We see that importing energy in addition to exploring new stable and sustainable energy options is not only inevitable, but can offer economic and strategic security through diversity of supply, increased competition, and greater environmental compatibility. Seeking energy securuty through novel technologies can spur indigenous innovations as well. Most of these technologies are intrinsically capable of addressing concerns of global warming.