become bigger than the six most industrialised nations in dollar terms and would completely change the power dynamics of the last years. - - . . AM - - .
. AM India’s International Relations The factors that bolster co-operation among members First, the common need among developing countries to construct an economic order that reflects the current situation will drive the BRICS efforts. In this matter, the idea of NDB and CRA are defining changes and will have huge geo-economic and geopolitical impact. Second, the BRICS alternative idea in the landscape of global governance will attract support from other countries.
Third, the expansion of BRICS interaction to other sector will make it more strong partnership. OPEC OPEC, the Organisation of the Petroleum Exporting Countries (a group of oil-producing nations), is an intergovernmental organisation founded in Baghdad, Iraq, and headquartered in Vienna, Austria. Iran, Iraq, Kuwait, Saudi Arabia and Venezuela are the OPEC’s Founder Members. There are three categories of memberships: Founder Members, Full Members and Associate Members.
OPEC membership is open to any country that exports crude oil and which shares the ideals of the organisation. OPEC’s Mission To coordinate oil policies in its member countries Help stabilise oil markets To secure fair and stable income to petroleum producers An efficient, economic and regular supply of oil to consuming nations A fair return on capital to those investing in the petroleum industry How does OPEC help other countries? The OPEC Fund for International Development (OPID) is an institution that helps finance projects with low interest loans. It also provides grants to social and humanitarian projects.
OPEC has an Information Centre with over , volumes including books, reports, maps and conference proceedings related to petroleum, energy and the oil market. The Information Centre is open to the public and is often used by researchers and students. India’s Relationship With OPEC India is one of the biggest consumers of crude oil. OPEC obviously has vested interest in India’s economic growth.
We import % of crude oil, % natural gas, % of cooking gas from OPEC countries. India has been