NITI Aayog, MoSPI to build database for quality energy policy

Government's think tank NITI Aayog and Ministry of Statistics and Programme Implementation (MoSPI) will build a robust database for energy sector to enhance quality of energy policy formulation across fuel and consumer side.
"We need to step-up our understanding of global energy trends. India's energy data systems are particularly weak on demand side -- consumption of different fuels by consumer types and end-uses."
"Internationally, surveys are a common tool to understand consumer behaviour and project demand," Anil Jain, Adviser, Energy, NITI Aayog said in a blog posted on the think tank's website.
For any policy formulation "we must have reliable and complete datasets", Jain said adding Aayog will build robust energy scenarios collaboratively with global energy agencies.

As per Paris-based International Energy Agency (IEA), India will need an investment of over USD 3 trillion in energy sector till 2040.
"This calls for a competitive, world-class investment regime. We live in an interdependent world and have a vested interest in sound understanding of global energy demand and supply projections. With nearly one-third of our primary energy demand being met by imports, India is an active participant in global energy trade," Jain wrote.

India's energy imports are only expected to keep rising in the immediate future, until over the time the country ramp-up renewal energy supplies, and fully explore coal, oil and gas deposits, he added.

In December 2015, NITI Aayog signed a collaboration framework with Institute of Energy Economics, Japan. Followed up in March, this year, with a similar arrangement with IEA.
Jain said another tie-up is in the offing with the Energy Information Administration, USA.
"Hence, we have a keen interest in collaborating with expert institutions elsewhere, so that we may be equipped with top quality appreciation of global energy prices, supply and other trends", he said.
Also, in signing these joint programmes with leading think tanks, Aayog also offers the "value proposition of being the single-point of interaction for all energy sources," he said further.

"India's own energy mix is moving away from fossil fuel dominance with emergence of renewable energies in a big way. Hence, the need of the hour is to look at the omnibus energy sector and advise future strategy accordingly," Jain said.