Amid volatility in global energy markets, continuing recovery from the Covid-19 pandemic and increasingly frequent climate-related challenges, India and the US on Friday reiterated their commitment to accelerate towards a just and sustainable energy transition.
This was stated in a joint statement which was issued after a meeting between Petroleum Minister Hardeep Puri and US Secretary of Energy Jennifer Granholm, who co-chaired the Ministerial dialogue of US-India Strategic Clean Energy Partnership (USISCEP) in Washington.
Puri is leading an official and business delegation to Washington DC and Houston in the US from October 6 to 11, 2022.
"As climate and clean energy leaders, the US and India share a common vision to deploy clean energy at scale during this critical decade to reduce emissions and achieve climate change mitigation goals, taking into account different national circumstances. Through regular consultations on global energy markets, efforts to strengthen collective energy security, and deepening technical engagement to support economy-wide decarbonization, the two countries are proactively addressing the multiple crises that the world faces through the US-India Strategic Clean Energy Partnership," the statement further said.
During the engagements, the two ministers reviewed progress across the entire spectrum of the energy sector partnership.
They noted with appreciation the tremendous increase in bilateral energy trade achieved over the last few years.
They also welcomed the increased clean energy collaboration between stakeholders of both countries which is facilitating expanded clean energy investment, including in emerging technologies.
The ministers also underscored the importance of ensuring reliable energy supplies to ensure balanced energy markets, including India's support to the US' initiative to release crude oil from the strategic petroleum reserves and the importance of diversifying to clean energy sources.