India to see highest growth globally in energy demand through 2030: IEA
NEW DELHI: India will see the largest increase in energy demand of any country through 2030, an aspect that will continue to pose a challenge to the country’s energy security as the global crisis sparked by the Ukraine war turns the world energy system upside down.
According to the World Energy Outlook 2022 released by the International Energy Agency (IEA) on Thursday, the growth in India’s energy demand will rise at more than 3% annually from 2021 to 2030 in the stated policy scenario (STEPS), fuelled by urbanisation and industrialisation as it becomes the world’s most populous country by 2025.
“Even though India continues to make great strideswith renewables deployment and efficiency policies, the sheer scale of its development means that the combined import bill for fossil fuels doubles over the next two decades in the STEPS, with oil by far the largest component… Thispoints to continued risks to energy security,” the Outlook said underlining the country’s vulnerability to energy market volatility.
