India's Energy Shift: A Geopolitical Gambit for Stability and Affordability

India is recalibrating its energy import strategy amid the growing geopolitical and economic influence of the BRICS bloc, a move that is expected to have long-term implications for its energy security and trade dynamics. The country has historically relied heavily on oil and gas imports to meet its energy demands, with the petroleum sector playing a pivotal role in its infrastructure and transportation systems. Indian Oil Corp Limited (IOC), a state-owned enterprise, has underscored the importance of ensuring energy availability and affordability, particularly for vulnerable sectors such as road transport, through initiatives like the ‘Apna Ghar’ rest stations for truck drivers, which aim to reduce road fatigue and improve highway safety by providing low-cost amenities in strategic locations across the country [1].

The evolving energy landscape is being shaped in part by India’s strategic alignment with the BRICS nations, a grouping that has been increasingly vocal about reforming global financial and trade systems. While India has not publicly outlined a formal energy import strategy linked to the BRICS, analysts have noted that its growing cooperation with members such as Russia and China—two of the world’s largest oil producers—could lead to a diversification of supply chains and greater resilience against global market volatility. This is particularly relevant in the current geopolitical climate, where traditional sources of oil, such as those in the Middle East, are subject to heightened tensions and price fluctuations [1].

Recent developments in global oil markets further underline the need for India to adapt its energy procurement strategies. The price of West Texas Intermediate (WTI) crude, a global benchmark for oil prices, has seen fluctuations amid concerns over supply chain disruptions and geopolitical conflicts in the Middle East. Analysts have pointed to the possibility of short-term price increases in retail gasoline prices, driven by volatility in the WTI benchmark and potential production cuts from OPEC+ countries. The U.S. Treasury has also warned China, a major oil importer, that continued purchases of Russian oil could result in significant tariffs, a development that might indirectly affect India’s energy pricing and procurement policies if the BRICS bloc moves to counter Western economic pressures [2].

India’s domestic energy sector is also evolving in response to these shifts. The IndianOil Foundation has taken steps to support both cultural and infrastructural development through initiatives like the LED-based illumination of historical landmarks and scholarships for para-athletes, signaling a broader approach to energy and societal development. Additionally, the government has emphasized the importance of energy equity and affordability through targeted policies and public-private partnerships aimed at ensuring that energy access is not compromised during supply shocks or regional crises. These efforts align with the country’s commitment to inclusive growth and resilience, particularly as it seeks to reduce its dependence on a volatile global market [1].

As India moves forward with its energy policy reconfiguration, the role of state-owned enterprises like IndianOil will be critical. Their ability to balance domestic needs with international strategic interests will determine the success of India’s energy transition in a BRICS-influenced global order. This recalibration is not merely economic—it is also geopolitical, as India seeks to secure its position in a multi-polar world while maintaining energy affordability and infrastructure development for its growing population and economy.

Source: [1] Indian Oil Corp Limited (https://in.linkedin.com/company/indian-oil-corp-limited) [2] Crude Oil Futures Price Today (WTI) (https://www.investing.com/commodities/crude-oil)