Abstract
Energy ties between India and Australia are centuries old and can be traced back to the days of East India Company of the British–Indian era. From the first commercial export in the form of a shipment of coal to India from Australia in 1797, energy cooperation has come a long way. For instance, apart from making unswerving attempts to get Australian yellowcake, attempts have been made by India to ensure greater supply of coal and natural gas. Both the countries are also trying to find ways and means to work jointly on increasing the production of geo-thermal and solar energy as also to enhance clean-energy technology cooperation among other things.
Energy forms the core of a nation’s national security as a country’s economy is fuelled by energy resources and India is no exception in this respect. It holds a prime position as the Indian economy has been growing at a rate of six to seven per cent in the past few years. There is no denying that India has come a long way since independence in the energy sector. However, greater levels of consumption, both industrial and domestic, have led to a stage where the supply of energy falls short of the demand. The main focus of the government of late has been on capacity-building of the economy. Energy-intensive projects such as infrastructure development are the top priorities of the government; something which had been neglected in most parts of independent India. And this is where the importance of Australia for India lies, given its abundant energy resources.
Indian companies are interested in investing in coal mining and oil and gas exploration in Australia. The five action plans that were signed in November 2008 with the Ministries of Power, Coal, Petroleum and Natural Gas, Mines, and New and Renewable Energy are the buildings blocks to build on and to take forward the bilateral engagement in the energy sector.
PDF