Lok Sabha Question No. 374 (STARRED), answered on 2024-12-20
Subject: Outcome of PM's Visit to Nigeria, Brazil and Guyana
Ministry: EXTERNAL AFFAIRS
Asked by: Dr. Mallu Ravi

## GOVERNMENT OF INDIA

## MINISTRY OF EXTERNAL AFFAIRS

## LOK SABHA

## STARRED Q. NO. 374

## ANSWERED ON 20.12.2024

## OUTCOME OF PM'S VISIT TO NIGERIA, BRAZIL AND GUYANA

## *374. DR. MALLU RAVI

Will the Minister of External Affairs be pleased to state:

(a) whether Prime Minister of India's visit to Nigeria, Brazil, and Guyana is aimed at diversifying India's energy sources and strengthening trade partnerships, particularly in the crude oil sector;

(b) if so, the details and outcome thereof;

(c) whether the visits to Nigeria and Guyana, both of which are rapidly expanding their petroleum production is likely to result in new energy agreements or collaborations to enhance energy security of the country; (d) if so, the details thereof; and

(e) whether Prime Minister's participation in the G-20 Leaders Summit in Brazil focussed on advancing India's strategic interests in global trade and energy partnerships and if so, the details thereof?

## ANSWER

## THE MINISTER FOR EXTERNAL AFFAIRS

## (DR. SUBRAHMANYAM JAISHANKAR)

## (a) to (e): A statement is laid on the table of the House.

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Statement referred to in reply to parts (a) to (e) in respect of Lok Sabha Starred Question No. *374 for reply on 20.12.2024 regarding 'Outcome of PM's Visit to Nigeria, Brazil and Guyana.'

India and Nigeria share warm and cordial relations and their ties have evolved into a 'strategic partnership', with sound political understanding and diversifying economic engagement. Nigeria is India's largest trading partner in Africa and India is one of the largest trading partners of Nigeria. Our bilateral trade is dominated by India's import of crude oil from Nigeria. About 11 per cent of India's energy supply comes from Nigeria annually. During Hon'ble PM's visit to Nigeria on November 16-17, 2024, both sides discussed various ways and means to strengthen the bilateral trade partnerships in all sectors, including the crude oil and natural gas.

Prime   Minister   participated   in   the   G20   Leaders'   Summit   in   Rio   de Janeiro,   Brazil   from   18-19   November   2024.   The   G20   Rio   Leader's Declaration, which was endorsed by India, reflects many provisions of the G20 New Delhi Leaders' Declaration adopted in  September 2023 during India's Presidency of the G20, including on issues of global trade and energy,  carrying forth and advancing India's strategic interests. With respect to global trade, the G20 Rio Leader's Declaration inter alia emphasized the need to ensure a rules-based, non-discriminatory, fair,

open,   inclusive,   equitable,   sustainable   and   transparent,   multilateral trading system with the WTO at its core and supported policies that enable trade to serve as an engine of growth and  prosperity for all.

On energy, the G20 Rio Leader's Declaration inter alia committed to accelerate   clean,   sustainable,   just,   affordable   and   inclusive   energy transitions; support the implementation of efforts to triple renewable energy capacity globally and double the global average annual rate of energy efficiency improvements globally through existing targets and policies; recognize the need to catalyze and scale up investment from all financial sources and channels for bridging the funding gap for energy transitions   globally,   especially   in   developing   countries;   and   support reliable,   diversified,   sustainable   and   responsible   supply   chains   for energy   transitions,   including   for   critical   minerals   and   materials beneficiated at source, semiconductors and technologies.

During   the   visit   of   Prime   Minister   to   Guyana,   an   agreement   on cooperation in the Hydrocarbons sector was signed between India and Guyana. With enhanced engagements in the hydrocarbon sector, enough potential lies ahead for growth in our bilateral trade. In 2021-22, the total bilateral trade reached its peak and stood at 223 million due to import of Crude oil; India imported Crude oil for the first time from Guyana worth US $ 149 million. The agreement aims to enhance bilateral cooperation in the entire value chain of hydrocarbons sector and services, including

promotion of investments in each other's countries, technology transfer, R&D, conducting joint studies and capacity building of human resources. Indian oil companies can also explore opportunities to participate in the exploration and production sector in Guyana.

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