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INTERNATIONAL ENERGY AGENCY (IEA) and INDIA



  Apr 18, 2024

INTERNATIONAL ENERGY AGENCY (IEA) and INDIA


The International Energy Agency (IEA) is an autonomous intergovernmental organization headquartered in Paris. It was established in 1974 following the 1973 oil crisis. The agency was set up under the aegis of the Organisation for Economic Co-operation and Development (OECD) to address the disruptions in oil supply that the crisis caused. The IEA's primary roles include offering policy recommendations, providing analysis and data related to the global energy sector, promoting energy conservation, and facilitating international technical collaboration. Its membership comprises 31 countries, and there are 13 association countries that together represent 75% of the world's energy demand.

The IEA acts as a policy adviser to its member states, providing resources to help them implement effective energy policies that support energy security, economic growth, and environmental protection. The agency conducts in-depth market analysis to ensure reliable, affordable, and clean energy. It also promotes energy efficiency and technology collaboration internationally to reduce global dependence on fossil fuels and mitigate climate change impacts.

India's evolving relationship with the International Energy Agency (IEA) is indeed a significant development in the global energy landscape. By becoming an Association country in 2017, India started participating in IEA activities, which marked the beginning of a deeper engagement with global energy policies and practices. This step was reflective of India's increasing influence and responsibility in global energy matters, acknowledging its critical role as a major consumer and future leader in the energy sector.

HOW DOES IEA MEMBERSHIP BENEFIT COUNTRIES?

<p style="color: rgb(34, 34, 34); white-space-collapse: preserve; font-family: Söhne, ui-sans-serif, system-ui, -apple-system, " segoe="" ui",="" roboto,="" ubuntu,="" cantarell,="" "noto="" sans",="" sans-serif,="" "helvetica="" neue",="" arial,="" "apple="" color="" emoji",="" "segoe="" ui="" symbol",="" emoji";="" font-size:="" 16px;="" border:="" 0px="" solid="" rgb(227,="" 227,="" 227);="" box-sizing:="" border-box;="" margin:="" 1.25em="" 0px;"="">IEA membership offers countries robust support in developing and implementing energy policies that cater to their national interests while aligning with global sustainability goals. Members benefit from access to up-to-date energy data, research, and technology exchange that can help improve their energy systems' efficiency and resilience. Furthermore, being part of the IEA enables countries to contribute to and shape international strategies on critical issues such as energy security, market stability, and environmental protection.

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