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Pranab seeks partnership with African nations for energy needs
Pointing out that the world economy is facing renewed uncertainty amid the likelihood of another global economic slowdown, Finance Minister Pranab Mukherjee has said that it is imperative that both India as well as oil-rich African nations should seek to build long term partnerships to address each others’ energy needs.
“Business sentiments are down. Food inflation and high fuel costs in times of weak global growth are taking a heavy toll on the economies of many emerging countries, including India,” he said at the third India-Africa Hydrocarbons Conference.
In such a situation, Mukherjee said, “it would not be prudent to treat hydrocarbon assets as a zero-sum game… We, the producers and consumers must together look to forge a truly global, integrated, open and competitive energy market for our mutual benefit.”
Pointing out that the world economy is facing renewed uncertainty amid the likelihood of another global economic slowdown, Finance Minister Pranab Mukherjee has said that it is imperative that both India as well as oil-rich African nations should seek to build long term partnerships to address each others’ energy needs.
“Business sentiments are down. Food inflation and high fuel costs in times of weak global growth are taking a heavy toll on the economies of many emerging countries, including India,” he said at the third India-Africa Hydrocarbons Conference.
In such a situation, Mukherjee said, “it would not be prudent to treat hydrocarbon assets as a zero-sum game… We, the producers and consumers must together look to forge a truly global, integrated, open and competitive energy market for our mutual benefit.”
