India to be largest source of energy demand growth to 2040 – IEA

ndia will make up the biggest share of energy demand growth at 25% over the next two decades, as it overtakes the European Union as the world’s third-biggest energy consumer by 2030, the International Energy Agency (IEA) said.

India’s energy consumption is expected to nearly double as the nation’s gross domestic product (GDP) expands to an estimated $8.6 trillion by 2040 under its current national policy scenario, the IEA said in its India Energy Outlook 2021 released on Tuesday.

Prior to the global pandemic, India’s energy demand was projected to increase by almost 50% between 2019 and 2030, but growth over this period is now closer to 35% in the Stated Policies Scenario (STEPS), and 25% in the Delayed Recovery Scenario.