Research
Indiaas Look East Policy: Challenges and Opportunities Ahead
Prior to 1991, India almost did not look to its neighbouring Eastern countries. Rather, it maintained a very close relationship with the Western and Middle East countries. Because, firstly, asa colonial habitants of the British – India the entire mindset of the people of India was dominated by the Socio-economic philosophy of the western countries. Secondly, India was tied up with the then USSR during the Cold War period. Thirdly, India had to import most of the imported goods from defence equipments to petroleum products or crude oil and natural gas etc. from the Western and Middle East countries. With the collapse of the Soviet Union the Cold War period came to an end when most of the nations accepted the new era of Globalisation, Liberalisation and Privatization in their economy as well as other socio-cultural fields. The nations have realized that the means to making wealth is by developing of international trade and encouragement of foreign investments etc. The South East Asian countries have also experienced with the New Economic Reform Policies as a result, there have been rapid economic development and growth in South East Asian countries. Thus with the introduction of the “New Economic Policy 1991†India opened its door to the South East Asian countries for trade and other socio-economic activities.
aoNational Wastage of Natural Gas in Assam oil fields : Oil India Ltd. Vs ONGCL, THE ENVIRONMENTAL ISSUESa
Assam is enriched with Petroleum Mineral Resources. Out of the total 25 Oil Blocks of India, 15 Blocks are located in Assam. It holds about 20% of the indigenous Crude reserves and 23% of the total Natural Gas(NG) Reserves of India. If the said Resources are explored and utilized properly, the state will be able to register itself as a developed state. Unfortunately, due to improper utilization of the Resources, the state remains poor. The Per Capita Income of Assam was recorded at Rs. 27,197.00 only against Rs. 46,492.00 of India’s National Average Per Capita Income in the year 2009-10. the investment and production scenario in oil sector is so poor that, the state is producing only 14% of the total indigenous crude production and 7% of the total indigenous Natural Gas ( NG ) Production in spite of having 23% of total Crude Reserves and 21% of total NG of India. On the basis of the Reserve status, the Production of NG of Assam may be increased to 21.0 Billion Cubic Meters against the current production of 3.38 Billion Cubic Meters p.a. A
