In a move that formally acknowledges the government’s desire to leverage India’s status as one of the world’s largest consumers of oil to its diplomatic advantage, the country’s energy purchases will now officially be guided by foreign policy objectives. The UPA government has set up an institutional mechanism in the form of a group of ministers (GoM) under the chairmanship of the external affairs minister which will be the final authority for conduct of structured energy dialogues with energy-rich countries. To address global market risks, India would acquire energy assets of coal, oil, gas, uranium and biofuel farms abroad. Energy using industries such as fertiliser plants would also be acquired in energy-rich countries as per the policy, a move strongly endorsed by foreign minister Pranab Mukherjee. Building adequate import infrastructure and hard currency reserves to increase the ability to import energy are part of the strategy.
http://www.financialexpress.com/news/now-foreign-policy-objectives-to-drive-indias-energy-security-goals/404055/0