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Puri Meets Chief Advisor to Brazilian President

Puri also highlighted ‘Nari Shakti’ as one of important pivots of the India Growth Story under the leadership of Prime Minister Narendra Modi…reports Asian Lite News

Union Minister Hardeep Puri met his ‘old friend’ Celso Amorim, who is the Chief Advisor to the Brazilian President Lula da Silva, during his visit at the World Economic Forum at Davos, Switzerland.

He recalled his time as Indian Ambassador to Brazil when Celso was Brazil’s Foreign Minister and his time as Indian envoy to the UK, when Celso was Brazil’s envoy in London.

“Delighted to meet my old friend Amb Celso Amorim who is now the Chief Advisor to Brazilian President HE Luiz Inacio Lula da Silva.We go back a long time! He used to be Brazil’s Foreign Minister when I served as India’s ambassador to Brazil from Jan 2006 to May 2008.Earlier when I was India’s Dy High Commissioner to UK, Amb Celso was Brazil’s Ambassador in London!” Puri posted on X.

Notably, Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, has joined the World Economic Forum along with Union Minister for Women and Child Development, Smriti Irani.

Earlier on Monday, the two leaders, along with other industry leaders, launched the WeLead Lounge at Davos.

The Lounge showcases the role of women in economies and is set to have wide ranging discussions on opportunities in women-led development.

Puri also highlighted ‘Nari Shakti’ as one of important pivots of the India Growth Story under the leadership of Prime Minister Narendra Modi.

“Celebrating the emergence of #NariShakti as one of the important pivots of the India Growth Story as we move from women centred development to Women Led development under the leadership of PM @narendramodiJi,” he said in a post.

“Was a delight to join my colleague Smt @smritiirani Ji along with captains of the industry at the launch the #WeLead Lounge at #Davos2024The Lounge showcases the role of women in economies & is set to have wide ranging discussions on opportunities in women-led development,” the Union Minister added.

The 54th Annual Conference of the World Economic Forum is underway in Davos, Switzerland. This conference will be held for three days.

Meanwhile, Accenture’s ‘Pulse of Change: 2024 Index’ released on Day 1 of the WEF in Davos showed positive news for India. According to the survey, In India the rapid pace of change holds continued potential for wide-ranging impact on leaders in the year ahead.

A striking 89% of leaders in India anticipate an even faster rate of change in 2024. 76% of leaders in India see change as an opportunity, and 63% expect revenue growth to accelerate in 2024. Fifty-eight percent of C-suite leaders in India expect the pace of technology disruption to accelerate even further in 2024. (ANI)

ALSO READ-Puri urges OPEC chief to infuse sense of affordability in oil markets 

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Puri urges OPEC chief to infuse sense of affordability in oil markets 

Puri wondered whether the global economy is again going to witness a situation similar to the economic turmoil of 2008 which had become a self fulfilling prophecy…reports Asian Lite News

With OPEC and OPEC+ having reduced the availability of oil by 4.96 million barrels per day from the market since 2022, thus spiking brent prices from $72 per barrel in June to $97 per barrel in September 2023, Petroleum Minister Hardeep Singh Puri has called for infusing a sense of pragmatism and affordability in the oil markets.

During his meeting with OPEC Secretary General Haitham Al-Ghais on the sidelines of the ongoing annual Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2023, Puri urged OPEC to recognise the gravity of the current economic situation and called upon him to use his office to imbue a sense of pragmatism, balance and affordability in the oil markets.

During the discussions, the Petroleum Minister highlighted that due to the production cuts carried out by OPEC (10) and OPEC+ countries from August 2022 onwards, effectively around 5 per cent of the total global oil availability has been removed from the market, causing crude oil price to rise by 34 per cent in just last three months.

These cuts have been made despite growing energy demand, he said.

Brent crude oil prices jumped from $72 per barrel in June to $97 per barrel in September 2023, placing severe strains on the capacities of most oil importing consuming countries.

Puri, during his meeting with the OPEC chief, also highlighted that despite the geopolitical crisis of 2022, which has added to existing inflationary pressures and created a real risk of recession in large parts of the world, India, through positive intervention had effectively cushioned its economy from spiralling energy prices.

However he added that the world needs to be cognizant that around 100 million people have been pushed away from cleaner fuels, back to coal and firewood in the last 18 months.

Puri wondered whether the global economy is again going to witness a situation similar to the economic turmoil of 2008 which had become a self fulfilling prophecy.

Brent prices had initially soared from $93.60/bbl in January 2008 to $134.3/bbl in July 2008, fuelling an accelerated global economic meltdown, leading eventually to demand destruction and very low oil prices.

In the interest of global good, he advocated balancing global energy markets by ensuring that crude oil prices do not outstrip the paying ability of the consuming countries.

ALSO READ-CGI Puri opens India Pavilion at GETEX in Dubai

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Puri to lead Indian biz delegation to US

The Minister will also hold discussions with CEOs of US-based energy companies…reports Asian Lite News

A ministerial dialogue of the US-India Strategic Clean Energy Partnership (USISCEP) will be held on Friday in the US, the Ministry of Petroleum and Natural Gas (MoP&NG) said on Wednesday.

The dialogue is part of an official and business delegation visit to Washington DC and Houston, USA, from October 6-11 being led by Hardeep S Puri, Minister of Petroleum and Natural Gas and Housing and Urban Affairs.

In Washington DC, the Minister will co-chair the USISCEP on October 7 with Jennifer Granholm, Secretary of Energy, USA.

The revamped USISCEP was launched in accordance with US-India Climate and Clean Energy Agenda 2030 Partnership announced by Prime Minister Narendra Modi and US President Joe Biden at the Leaders’ Summit on Climate held in April 2021.

The partnership continues to advance energy security and innovation; scaling up emerging clean energy technologies; and deploying technical solutions through five pillars– Responsible Oil and Gas Pillar, Power and Energy Efficiency Pillar, Renewable Energy Pillar, Sustainable Growth Pillar, and Emerging Fuels and technologies.

The Minister will interact with World Bank Officials on Climate Resilient Urban Infrastructure. He will also participate in two executive roundtables with USA India Business Council in Washington D.C. and with USA India Strategic Partnership Forum in Houston.

The Minister will also hold discussions with CEOs of US-based energy companies.

Last month, the Union Minister said that India is on the path to becoming a 10 trillion-dollar economy in 2030 and the third largest economy in the world by 2047.

Puri said that despite the unique challenges posed by the current global setting, India is wedded to the concept of net zero and is committed to making a transition from the world of hydrocarbons to a world where green and sustainable energy will be determining our energy needs.

The Minister also highlighted India’s progress in ensuring energy security for its citizens and outlined the Government’s plans to make the country’s energy mix more sustainable and environmentally friendly.

‘In the wake of global crises, India has fared extremely well on three fronts – energy, food and fuel. The country was able to navigate out of the crises brought by global headwinds with a degree of confidence, assuring energy availability and affordability. The country’s per capita energy consumption is one-third of the global average now and will surpass it in the years to come. India is on becoming to become a 10 trillion-dollar economy in 2030 and the third largest economy in the world by 2047 and therefore there is a growing need to change the energy mix,” he said.

ALSO READ-India to step up oil exploration, production: Puri

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Prez arrives Odisha for 3 day visit

President Ram Nath Kovind, accompanied by First Lady Savita Kovind, arrived in Bhubaneswar on Saturday for a three-day state visit…reports Asianlite News.

The President arrived at the Biju Patnaik International Airport here in a special plane of the Indian Air Force (IAF) on Saturday evening.

The President and the First Lady were welcomed by Odisha Governor Ganeshi Lal, Chief Minister Naveen Patnaik, Union Ministers Dharmendra Pradhan and Pratap Sarangi, and other officials of the state government.

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Kovind will spend the night at the Raj Bhawan, said official sources.

The President will grace the 18th annual convocation of the National Institute of Technology (NIT) in Rourkela on Sunday. He will also inaugurate a super specialty hospital of Rourkela Steel Plant on the same day.

NIT Rourkela (Wikipedia)

On Monday, the President will visit the Jagannath Temple in Puri besides visiting the Konark Sun Temple and the India Oil Foundation Trust Interpretation Centre in Konark.

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