Describe the role and importance of energy in industrialization of India.
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While all eyes have been on China and its incredible economic growth in recent years, India has been quietly catching up. Just recently, Apple CEO Tim Cook described the country’s potential as “incredibly exciting”, and it’s a sentiment shared by many. But if India is to live up to this potential, its growth is intertwined with its energy sector.
Powering the Indian economy
India’s energy consumption has doubled since the year 2000 and is expected to more than double by 2040, which will account for one-fourth of global increase in that same period. Per capita electricity consumption in the country is less than that of Africa’s and one-tenth of America’s levels. In fact, even though India is the third largest market in terms of gross electricity generation, it still has almost 250 million people without access to power. Rectifying this situation will be critical to ensure India’s economy grows five-fold by 2040 and that policies such as Make in India , Skilling India and Digital India are a success. Energy and electricity growth will therefore become crucial for powering the country’s future.
Powering the Indian economy
India’s energy consumption has doubled since the year 2000 and is expected to more than double by 2040, which will account for one-fourth of global increase in that same period. Per capita electricity consumption in the country is less than that of Africa’s and one-tenth of America’s levels. In fact, even though India is the third largest market in terms of gross electricity generation, it still has almost 250 million people without access to power. Rectifying this situation will be critical to ensure India’s economy grows five-fold by 2040 and that policies such as Make in India , Skilling India and Digital India are a success. Energy and electricity growth will therefore become crucial for powering the country’s future.
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