Back then, we wrote in the Business & Economy that Indian policy-makers are great at announcing a slew of new projects while it is nations like China that walk away with all the honours at the end of the day. We also wrote that energy security will become an issue that will be even more important than global terrorism. For better or for worse, we added that India is simply not exploiting the massive reserves of coal and its equally huge hydro-electric potential to satisfy rapidly growing demand for energy.
Nothing much has changed over the last two years. China continues to steal a march over India and even other countries, when it comes to persuading emerging suppliers of oil and gas to favour the Dragon. The disaster in Iraq shows how the whole Bush gambit was about energy security. And despite endless debates and seminars and talks, India continues to muddle its way through. There is no doubt that oil prices are not going to come down to old levels of $40 a barrel. So India has no choice but to keep looking for the elusive energy security that could determine the future of economic growth.
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Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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