India is faced with challenges on the path to development. It has to consume energy to grow economically and at the same time, has to mitigate carbon emissions. In other words, it has to develop sustainably.
India’s current population is 1.35 billion, which is expected to reach 1.5 billion by 2035. The country’s population grew at a rate of 2.52 per cent annually from 1980 to 2020. The demand for energy has steadily increased in India, given the increasing population.
India is the third-largest consumer of electricity in the world, according to the International Energy Agency. Its annual consumption in 2019-20 was 1,389.21 terawatthour. This is roughly one-third of the world’s average consumption. India’s per capita electricity consumption grew at a compound annual growth rate of 5.8 per cent between 1980 and 2020.
India has witnessed rapid economic growth in the last three decades, with Gross Domestic Product growth rate averaging around six per cent. The economic development has been majorly driven by the development of industries and infrastructure at the macro-level.