India’s fossil fuel import bill could triple by 2040: IEA study

India’s annual import bill for fossil fuels is projected to triple by 2040 as the country is set to experience the largest energy demand increase in the world over the next two decades, according to a new study by International Energy Agency.

“The combination of a growing and industrialising economy and an expanding and increasingly urban population will drive energy use higher, raising the question of how best to meet that swelling demand without exacerbating issues like costly energy imports, air pollution, and greenhouse gas emissions,” IEA said in its report that analyses multiple scenarios based on a blend of assumptions related to policy objectives, resolution of Covid crisis, and economic growth.