| India has recently disclosed its plans to spend around | | | | destroyed several petrochemical factories and a |
| $1 billion in a new global trade deal with Africa. Indian | | | | natural gas plant in the area. The damaged factories |
| Ambassador Amarendra Khatua said that the | | | | of both Oil and Natural Gas Corporation and Reliance |
| agreement would consist of the improvement of the | | | | Industries may only account for a minor percentage of |
| mining and oil facilities in Africa's Ivory Coast during the | | | | India's entire production of energy. Still, the closure of |
| next 5 years. According to the official, his nation has | | | | these facilities has affected the country's energy |
| sought to avail of the vast and abundant oil resources | | | | sector and has roused concerns on energy shortage. |
| of the region through the Gulf of Guinea. Moreover, the | | | | According to India's Ambassador to the Ivory Coast, |
| Indian government has also considered about building | | | | both India and China are in need of securing their |
| new mining and energy facilities in the area. The new | | | | current and future energy resources due to their rapid |
| global trade deal would also serve to further fortify the | | | | economic development. He added that both countries |
| alliance between India and Africa. | | | | needed to invest more money on global trade deals |
| According to analysts, the global trade deal is vital in | | | | covering energy supplies. Needless to say, Mr. Khatua |
| India's search for more energy resources outside its | | | | said that a civil war, which lasted until 2003, might pose |
| territory. Currently, the nation has embarked on looking | | | | as a hindrance towards India's plans to venture in |
| for more energy and raw materials in order to fuel its | | | | Africa's mining and oil industries. He added that there |
| rapidly growing economy. India is among the Asian | | | | were still plenty of things to be negotiated before his |
| countries that have shown a fast and remarkable | | | | nation could proceed with its plans to make a global |
| economic growth during the recent years. As a result | | | | trade deal with the region. Currently, the Ivory Coast |
| of this phenomenon, the energy demand from both | | | | produces above 60,000 barrels of oil a day. Indian Oil |
| industrial and domestic consumers have also risen. | | | | and Natural Gas Commission (ONGC) already |
| As India's energy resources fall short before the | | | | invested around $12 million in the exploration of an |
| increasing demand, the government continues to seek | | | | offshore oil resource in the place. Meanwhile, India's |
| more foreign supplies through signing global trade deals | | | | economy continues to expand with the increase of |
| on energy. In fact, a large percentage of the nation's | | | | foreign investments. More foreign companies have |
| energy needs is already covered by foreign supplies. It | | | | been attracted by the country's improvement and are |
| must be noted that the recent floods that submerge | | | | looking for business opportunities in the region. The |
| the western part of India has also rouse more fears | | | | government though was warned to increase its |
| on energy supplies. Continuous and heavy rains during | | | | investments on infrastructure projects in order to |
| the past weeks had resulted to floods, which | | | | cover the long term needs of its growing economy. |