India in Talks With UAE on Oil-for-food Exchange

The scheme involves exchange of food from India for crude oil.

Published: 11th March 2016 08:04 PM  |   Last Updated: 11th March 2016 08:04 PM   |  A+A-


NEW DELHI: Union Petroleum Minister Dharmendra Pradhan said here on Friday that India is in talks with some countries on a scheme of "strategic security".

The scheme involves exchange of food from India for crude oil.

"Talks at the leadership level between India and United Arab Emirates have taken place, as well as with some other countries, on the concept of a strategic security that involves exchanging food for oil," Pradhan told reporters.

"We have excess production of certain foodgrain like rice and wheat, while countries like the UAE have a lot of oil... so we are exploring the concept of realising strategic security through an exchange in these commodities," he added.

Pradhan also said that the "concept" was being explored currently, and it was still early to speak of a timeline in the matter.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp