India's Share Of Total Global Primary Energy Demand Set To Double To 11% By 2040


Union Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan said that the inevitable shift in global energy consumption to Asia is a reality. Pradhan also noted that India has to improve availability of energy to over 1.3 billion people, whose per capita energy consumption is lower than the global average. Now, India is the third-largest energy consumer in the world, and its energy demand is growing faster than all major economies of the world. India's share of total global primary energy demand is set to double to 11% by 2040.
Addressing the opening session of the 8th Asian Ministerial Energy Roundtable in Abu Dhabi today, he said that we now need to ensure that this change is rooted in Energy Justice, which was articulated by Prime Minister of India Narendra Modi as most important component of Energy Vision of India. Pradhan said that the Emerging Asia will be driving the world economic growth in the coming 20 years. In the global context, developing economies will drive 80% of the incremental global growth, with India and China accounting for more than half of it.
He noted that energy access, higher standard of living and improved prosperity in developing countries will primarily drive the energy demand. It is important for the low income, low per capital energy consuming countries to have access to technology and capital when it comes to energy efficiency and cleantech. That will provide better energy security than short term interventions in fossil fuel supply and price.
He said that due to poor and imbalanced energy infrastructure, 400 million people in Asian region have no access to electricity, and rural residents have no access to clean electricity. Therefore, providing safe, stable, affordable and efficient energy has become an important task for governments of all countries.
Powered by Capital Market - Live News

Also Read

Switching to renewable energy can drive up energy poverty: Study

India inching towards meeting Paris Agreement targets: RK Singh at G20 ministerial meet

UltraTech Cement to exceed 25% 'green energy' contribution to total energy consumption by 2021

Indian Navy formulates environment conservation roadmap

India's energy demand to grow by 4.2%: Pradhan

Prime Minister To Inaugurate India's Second Multi Modal Terminal

Co-operative And Competitive Federalism, Ease-of-Doing Business For MSMEs Essential For Achieving US $ 5 Trillion Economy: PHD Chamber

Railways freight loading declines 6.1% to 91.06 million tonnes in August 2019

Railway revenues decline 0.7% in August 2019

Mutual Funds AUM rises 3.8% to Rs 25.48 lakh crore in August 2019

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Sep 11 2019 | 2:31 PM IST

Explore News