India on Wednesday inked a strategic partnership agreement with the International Energy Agency (IEA) to strengthen cooperation in global energy security, stability and sustainability.
This partnership will lead to an extensive exchange of knowledge and would be a stepping stone towards India becoming a full member of IEA, a power ministry statement said.
"The Framework for Strategic Partnership between the IEA members and the Government of India was signed on 27th January, 2021 to strengthen mutual trust and cooperation & enhance global energy security, stability and sustainability," it said.
The Memorandum of Understanding (MoU) was signed by Power Secretary Sanjiv Nandan Sahai and IEA Executive Director Fatih Birol.
"The contents of the strategic partnership will be jointly decided by IEA members and India, including a phased increase in benefits and responsibilities for India as an IEA strategic partner, and building on existing areas of work within Association and the Clean Energy Transitions Programme, such as Energy Security, Clean & Sustainable Energy...Expansion of gas-based economy in India etc," it said.
The IEA Secretariat will be responsible for implementation of the cooperative activities in India and for facilitating discussion between the IEA members and India to further develop the strategic partnership.
Through this agreement, the Indian government endeavours to take necessary steps to encourage and promote strategic and technical cooperation in the energy sector in the identified areas, the ministry added.