TNPSC Current affairs April 2017
India become Associate member of International Energy Agency.
India has become the Associate member of International Energy Agency which will allow the country to play a vital role in the global energy landscape.
Piyush Goyal Minister of Power, Coal, Renewable Energy and mines , Oil Minister Dharmendra Pradhan and IEA Executive director Fatih Birol, announced India’s Entry into the elite group.
- India is already a partner at the International Energy Agency, but as an associate member which will enhance its negotiating status with major oil suppliers and consumers
- India’s entry, will now involve in the key committees and dialogues of the International Energy Agency.
- India as an Associate member now able to represent the interest of the emerging markets of the world.
- India’s Entry will now make IEA to cover more than 70% of world’s energy consuming countries.
The IEA Was set up in 1974 after the OPEC cartel shocked the world with a steep increase in Oil Price which headquarters is in Paris, France.
IEA works to ensure reliable, affordable and clean enrgy to its member countries and others. It focus on energy security, economic development, environmental awareness and engagement worldwide.