INDIA ENERGY OUTLOOK 2021: IEA
- Recently, the International Energy Agency (IEA) has released the India Energy Outlook 2021 Report which explores the opportunities and challenges ahead for India as it seeks to ensure reliable, affordable and sustainable energy for a growing population.
- The India Energy Outlook 2021 is a new special report from the IEA’s World Energy Outlook series.
Third Largest Energy Consumer by 2030:
- India will make up the biggest share of energy demand growth at 25% over the next two decades, as it overtakes the European Unionas the world’s third-biggest energy consumer by 2030.
- Presently, India is the fourth-largest global energy consumer behind China, the United States and the European Union.
- India’s energy consumption is expected to nearly double as the nation’s Gross Domestic Product (GDP)expands to an estimated USD 8.6 trillion by 2040 under its current national policy scenario.
- 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%.
International Energy Agency
- The International Energy Agency is an autonomous Intergovernmental Organisation established in 1974 in Paris, France.
- IEA mainly focuses on its energy policies which include economic development, energy security and environmental protection. These policies are also known as the 3 E’s of IEA.
- India became an Associate member of IEA in March 2017 but it was in engagement with IEA long before its association with the organization.
- Recently, India has inked a Strategic Partnership Agreement with the IEA to strengthen cooperation in global energy security, stability and sustainability.
- The World Energy Outlook Report is released by the IEA annually.
- IEA Clean Coal Centre is dedicated to providing independent information and analysis on how coal can become a cleaner source of energy, compatible with the UN Sustainable Development Goals.