IEA has asked India to become its full-time member as it is the worlds third-largest energy consumer.
Highlights
If this proposal is accepted, India will increase its strategic oil reserve to 90 days.
Oil Minister Hardeep Singh Puri held negotiations with IEA Executive Director Fatih Birol.
The IEA executive director invited India to expand its cooperation with IEA by becoming its full member during the discussion.
India started as an associate member of the IEA in March 2017 and agreed to enter into a strategic partnership to reinforce its collaboration regarding energy security and clean energy transition.
International Energy Agency, IEA is a Paris-based body that suggests industrialised countries about energy policies.
IEA was founded in 1974 by industrialised nations under the Organisation for Economic Co-operation and Development (OECD) structure.