Market Screener | Russia Develops Energy Cooperation with India

Feb 06,2023

Rosneft Chief Executive Officer Igor Sechin participated in a ministerial session during the Indian Energy Week, a key South Asian forum dedicated to energy security and environmental sustainability. Indian Prime Minister Narendra Modi inaugurated the India Energy Week and participated in a roundtable discussion with the leaders of global energy companies.

The head of Rosneft noted that India, having become the most populous country in the world, is turning into a leader in global economic dynamics. According to the IMF's latest calculations, half of global economic growth this year will come from India and its neighbors, with the U.S. and the Eurozone accounting for only 10%.

"It is a big country with a huge young ambitious population, where the most important thing is dynamics. It is no coincidence that analysts and experts predict an annual growth rate of up to 7% for India," said Igor Sechin.

The head of Rosneft pointed out that Russia, in its turn, was able, under unprecedented sanctions, pressure, and confrontation with almost the entire Western world, to achieve results more significant than many of the world's leading economies.

"The implementation of major economic programs has already become, regardless of the situation developing around us, a great psychological victory, which will predetermine our success in other areas", stressed Igor Sechin.

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The India Energy Week 2023 is held under the patronage of the government of India with the participation of all public sector enterprises and with the official support of the Federation of Indian Petroleum Industry.

Participants of the Energy Week include India's Petroleum and Natural Gas Minister Hardeep Singh Puri, OPEC General Secretary Haitham Al Ghais and Vice Administrator,the National Energy Administration, the People's Republic of China, Lin Shanqing, IEA Executive Director Fatih Birol, leaders of Indian oil and gas corporations Indian Oil, ONGC, Gail, energy ministers of the countries in the region, top managers of Saudi Aramco, ADNOC, Petronas, Kuwait Petroleum Corporation, TotalEnergies, BP and a number of other major companies.