‘India's Oil Procurement Based On National Interest’: Jaishankar After India-US Trade Deal

In the wake of the recent India-US trade deal, India's External Affairs Minister, S Jaishankar, underscored that India's oil procurement strategies are firmly rooted in national interest. Speaking at a press briefing, Jaishankar highlighted that Indian oil companies, much like their counterparts in Europe and other regions, base their purchasing decisions on market dynamics and the needs of the nation. He emphasized that these decisions are driven by economic considerations and strategic requirements, rather than external pressures. Jaishankar's remarks come amid growing scrutiny over India's oil imports, particularly in the context of geopolitical tensions and shifting global alliances. He clarified that India remains committed to securing energy supplies that align with its economic goals and developmental priorities. By focusing on market factors, India aims to ensure energy security while fostering sustainable growth. This approach, he noted, is crucial for maintaining stability in the domestic market and supporting the country's long-term energy needs. The minister's comments also reflect India's broader strategy of diversifying its energy sources to mitigate risks associated with over-reliance on any single region or supplier. As the global energy landscape evolves, India continues to balance its trade relationships with a pragmatic approach to procurement. This strategy not only reinforces India's sovereignty in decision-making but also strengthens its position in international trade dialogues, including with major partners like the United States.

— Authored by Next24 Live