There is huge potential for India-US collaboration in energy sector, says minister Hardeep Singh Puri | The Financial Express

There is huge potential for India-US collaboration in energy sector, says minister Hardeep Singh Puri

The Russia-Ukraine war has had far-reaching impacts on the global energy system, disrupting supply and demand patterns and fracturing long-standing trading relationships.

There is huge potential for India-US collaboration in energy sector, says minister Hardeep Singh Puri
Out of USD 160 billion worth of annual bilateral trade, India imports USD 20 billion worth of energy from the US, Puri noted. (Photo source: IE)

There is a huge potential for India-US collaboration in the energy sector, petroleum and natural gas minister Hardeep Singh Puri has said, underlining that the Indian government has handled the current energy crisis efficiently and has not allowed energy shortages to affect any part of the country.

The Russia-Ukraine war has had far-reaching impacts on the global energy system, disrupting supply and demand patterns and fracturing long-standing trading relationships. It has pushed up energy prices for many consumers and businesses around the world, hurting households, industries and entire economies of several nations.

“Today, when we talk about energy it suddenly assumes a different (connotation)… but I think this too shall pass. We have been able to navigate away past the challenges in what I think is a responsible and mature manner,” Puri said at a reception hosted in his honour by India’s Ambassador to the US Taranjit Singh Sandhu on Thursday.

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“I don’t think we’ve allowed energy shortages to affect any part of our population, including in parts of the Northeast which were undergoing heavy flooding. There were never any shortages, and we are confident of being able to take this forward,” he said, addressing a select gathering at the India House here.

The minister is scheduled to meet the US Energy Secretary Jennifer Granholm for a bilateral dialogue on Friday. Puri said there is a huge potential for India-US collaboration in the energy sector. “I think both sides are convinced that we will need to open a green corridor for looking at energy related issues as we go along,” he said. He said the portfolio of energy in India and the US relationship has grown significantly.

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“Today, when I deal with portfolios like energy…one thing that has renewed my faith is that, what India and the US can achieve together,” he said. Out of USD 160 billion worth of annual bilateral trade, India imports USD 20 billion worth of energy from the US, Puri noted. America’s former Ambassador to India, Richard Verma; and General Atomics Chief Executive Vivek Lall were among those who attended the reception at India House, which is the official residence of the Indian ambassador to the US.

The attendees included some of the eminent Indian American community members, including Bharat Barai from Chicago, Darshan Singh Dhaliwal from Wisconsin, Ravi Batra from New York and Mahinder Tak and Jasdip from Maryland. Puri, also the Union Minister of Housing and Urban Affairs, said after Washington DC, he is headed to Houston for more energy from American companies, more greener fuels for transition to sustainable energy

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