"We are very much wedded to strategic autonomy": Jaishankar on India's energy choices at Munich Security Conference

Speaking at the Munich Security Conference, Jaishankar was asked whether the new trade agreement with the US would compel India to reduce its reliance on Russian oil, potentially impacting its strategic autonomy.

"We are very much wedded to strategic autonomy because it's very much a part of our history and our evolution. It's something which is very deep, and it's something which cuts across the political spectrum as well," he said.

Addressing concerns over energy sourcing, the minister described the global oil market as complex and dynamic, stressing that commercial considerations guide procurement decisions.

"As for energy issues, this is a complex market today. Oil companies in India, as in Europe, as probably in other parts of the world, look at availability, look at costs, look at risks and take the decisions that they feel are in their best interest," he noted.

Jaishankar said that in a rapidly changing global environment, countries continuously reassess their calculations and partnerships.

"So many things are changing, and so many of us are doing our calculations and recalculations," he said, adding that while India may not agree with all partners on every issue, dialogue and a willingness to find common ground remain important.

"We would not necessarily agree on everything, but I do believe that by doing that, and if there is an inclination to find common ground and overlaps, that would happen," he said.

Emphasising India's independent decision-making, Jaishankar concluded, "If the bottom line of your question is, would I remain independent-minded and make my decisions? And would I make choices which sometimes may not agree with your thinking or somebody else's thinking, yes, it can happen."

External Affairs Minister S Jaishankar on Saturday met with G7 Foreign Ministers and their global counterparts at the Munich Security Conference 2026, reiterating India's support for the UN80 agenda and underscoring New Delhi's role in safeguarding global security.

He also emphasised India's role in safeguarding the sea lines of communication, acting as a first responder in crises, strengthening port security, and contributing to resilient submarine cable infrastructure.

Earlier, on February 9, Foreign Secretary Vikram Misri said that "national interest" would continue to guide India's energy-related decisions, underlining that the key drivers of the country's energy policy are "adequate availability, fair pricing and reliability of supply", amid reports suggesting New Delhi is cutting its oil imports from Russia.

Speaking during a Special Briefing by the Ministry of External Affairs (MEA) here, Misri stated that decisions in the energy sector, whether by the government or businesses, would be guided by national interests, while clarifying the issue of actual sourcing.

Misri clarified that oil companies make procurement decisions based on market conditions, including availability, risk assessment, costs, and logistics, while adhering to internal accountability and fiduciary responsibilities.

"As far as the actual sourcing of energy is concerned, this is undertaken by oil companies, which make decisions based on market conditions. They assess availability, evaluate risks, analyse costs, and follow their internal accountability processes and fiduciary responsibilities. At any given time, there is a complex matrix of considerations, including financial and logistical aspects, that these companies must take into account," he stated.

"What you will continue to see in this sector are business choices being made based on these considerations. Whether it is the government or businesses, national interest will continue to guide our choices," he added.

Misri noted India is a net importer in the oil and gas sector and, as a developing economy, must remain conscious of its resource availability and the impact of import dependence on inflation.

He added that safeguarding the interests of Indian consumers remains a top priority for the government.

Highlighting the volatility in global energy markets in recent years, the Foreign Secretary said that India, along with many other countries, shares a common interest in stable energy prices and a stable supply, noting India's role as a stabilising factor in global energy markets.

Misri emphasised that India does not depend on a single source for its crude oil imports and instead sources energy from dozens of countries.

He also noted that the mix of import sources naturally varies with market conditions.

"The key drivers of our energy policy are adequate availability, fair pricing and reliability of supply. If you look at the data, we import crude from dozens of countries. We do not depend on a single source, nor do we intend to. It is natural for the mix of sources to vary over time depending on market conditions. Our objective is to maintain multiple sources and diversify them to ensure stability. The more diversified we are in this area, the more secure we are," the Foreign Secretary stated. (ANI)