According to the experts at the seminar, the influence of energy is shifting from oil-rich West Asian countries to the newly-producing developed countries, and shifting from the physical markets to the commodity markets.
Taking advantage of changed geopolitics after recent surge in gas fuel, India is at the forefront of forming an association of major gas purchasing nations including Japan, Korea and China so as to make purchase at "reasonable" and "realistic" rates.
"Gas fuel is going to be a major form of energy for around at least next three decades, specifically in this part of the world. The talks are on at the company level. They may take some time to get finalised," said Dharmendra Pradhan, Minister of State, Petroleum and Natural Gas on the side lines of 'The Gateway of India dialogue', a two-day seminar organised at a city hotel by the Ministry of External Affairs and Gateway House, a think tank.
According to the experts at the seminar, the influence of energy is shifting from oil-rich West Asian countries to the newly-producing developed countries, and shifting from the physical markets to the commodity markets. This is impacting the trade, investments and geopolitics globally, added the experts. "The changes have already begun happening in the geopolitics," said R Andreas Kraemer, senior fellow, IASS Potsdam and founder & director emeritus, Ecologic Institute, Berlin.
Pradhan, while speaking on 'The Geopolitics of new energy', said that the association will give these countries a bargaining power while purchasing the gas.
He added that his government wants India to become an energy hub which will not only help in meeting the energy demand of the country but also the neighbouring countries. "India supplies energy to Nepal, Bangladesh, Sri Lanka, Bhutan. Talks are on with Myanmar. Becoming an energy hub will not only help India but also our neighbouring states."
Earlier during the day, U K Sinha, chairman, Securities and Exchange Board of India, while talking on subject of 'The politics of global capital', said that the investors are enthusiastic about India and its economies, especially with the policy changes which have taken in the past couple of years. "There is lot of optimism among the investors as compared to two years back. They are overall happy about positive direction in which government has moved in terms of law and long-term policies," said Sinha.
Another important topic to be discussed during the event was 'Globalization of talent and movement of labour'. The expert panel during the discussion claimed that two global movements are occurring simultaneously. One is globalisation of technology, finance, goods, and services which has created clusters of talent and prosperity around the globe. The other is massive migration for economic security or refuge from wars.
Godrej group chairman Adi Godrej, deputy foreign minister (Sri Lanka) Harsha de Silva, foreign secretary S Jaishankar, chairman of Manipal Global education services Mohandas Pai, film director Kabir Khan, Minister of State for Home Affairs Kiren Rijiju, and Minister of State for External Affairs General V K Singh were among the other speakers at the forum.
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