India has signed a strategic partnership with International Energy Agency (IEA) on January 27. The agreement has been done to increase mutual cooperation & trust and enhance global energy stability, security, and sustainability.
This strategic partnership of India with IEA is a step forward towards the full membership of India in IEA.
The partnership will also result in an extensive exchange of knowledge.
The framework of the partnership was signed between IEA Executive Director Fatih Birol and Secretary (Power) Sanjiv Nandan Sahai.
The contents of the partnership will be jointly decided by India and the IEA Members including a phased increase in responsibilities and benefits for India as an IEA Strategic partner, and building on existing areas of work within Association and the Clean Energy Transitions Programme (CETP), such as Energy Efficiency, Energy Security, Enhancing petroleum storage capacity in India, Clean & Sustainable Energy, Expansion of gas-based economy in India, etc.
The IEA Secretariat will look after the implementation of the cooperative activities in India and it will ease discussion between India and the IEA Members for strengthening the partnership further.
The Indian government will take the required steps to promote and encourage strategic and technical co-operation in the energy sector through the Framework Agreement.
IEA is a 30-member intergovernmental organization that was established in the year 1974 in the framework of the Organisation for Economic Co-operation and Development (OECD). It is headquartered in Paris, France.