The Indian Republic in the global energy markets

Abstract

Energy is an integral part of the economic security of any state, and it is more complex, the lower the degree of provision with its mineral resources and the higher the number of the population living in the country. Being the undisputed world leaders in terms of population (1.4 billion people and 1.3 billion people), China and India are concerned about ensuring the energy security of their national economies. According to the latest forecasts formed by the International Energy Agency, by 2040, these two countries will become world leaders in terms of imports of mineral products (in this case: crude oil and natural gas). China is the world leader in exporting goods; India is implementing an economic and industrial policy to turn the country into a world manufacturing hub. In this regard, providing countries with energy resources is one of the most critical tasks. At the same time, a significant problem is a dependence on regular supplies of raw materials and world prices for energy carriers. Respectively, countries should pursue a policy of diversification of suppliers of mineral products. The subject of this study is the Republic of India and its position in the world energy markets; issues of energy security and energy policy are also highlighted.