India’s Energy Policy

Historically, India has been an importer of its energy needs. Only the United States (us) and China consume more energy than India. In addition, it is the consumer with the quickest growth in the world, consuming 813 million tonnes of oil equivalent in 2019 (MOPNG 2021). India’s energy needs are projected to increase at the rate of 4.2% during 2017–40 (MOPNG 2020). On 1 October, India increased the price of domestically produced gas by 62%–69% based on the increasing international prices. Consequently, prices for consumers also increased (Chakraborty 2021).

Historically, India has been an importer of its energy needs. Only the United States (us) and China consume more energy than India. In addition, it is the consumer with the quickest growth in the world, consuming 813 million tonnes of oil equivalent in 2019 (MOPNG 2021). India’s energy needs are projected to increase at the rate of 4.2% during 2017–40 (MOPNG 2020). On 1 October, India increased the price of domestically produced gas by 62%–69% based on the increasing international prices. Consequently, prices for consumers also increased (Chakraborty 2021). Approximately, 30% of India’s energy needs are met by petroleum and natural gas, 55% by coal, 10% by hydropower, only 6.5% by renewable energy, and less than 3% by nuclear energy (NITI Aayog 2017).

India’s Energy Dependency