International Energy Agency (IEA) has invited India to become its full-time member. In March 2017, India became an associate member of the agency.
- The International Energy Agency is a Paris-based autonomous intergovernmental organisation established in the framework of the Organisation for Economic Co-operation and Development (OECD) in 1974 in the wake of the 1973 oil crisis.
- It is best known for the publication of its annual World Energy Outlook. Only OECD member states can become members of the IEA. In 2014, Estonia joined the IEA and became its 29th member. In 2018, Mexico joined the IEA and became its 30th member.
- IEA member countries are required to maintain total oil stock levels equivalent to at least 90 days of the previous year’s net imports. India’s current strategic oil reserves equal 9.5 days of its requirement.
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