The ascendency of India as an economic world power

I have been writing in this blog for 2 years now and I wrote many times about the high economic growth rate of the country. Well, everyone was saying about it too. Now, things have changed some. At this moment, I am writing more about inflation in India. The increase in international oil price is making the situation worse for the country.

Indian economy needs a lot of oil. The price is of course important but it is important to ensure continuous supply of oil. India is now looking for oil in Nigeria.

Economic Times wrote:

India has sought support from Nigeria to help Indian companies find more exploration blocks in the African nation's hydrocarbon sector.

Minister for Oil and Natural Gas Murli Deora made this request in the course of a meeting with Nigeria's Energy Minister Odein Ajumogobia on the sidelines of the conference of oil producing and consuming countries convened by Saudi Arabia, according to an Indian government statement.

China has been actively exploring Africa for oil for quite some time. Now, India is following China. Well, I really wish that China and India could invest some more on alternative energy sources.