India to become world’s third-largest energy consumer by 2030, currently in fourth place

The International Energy Agency (IEA) said on Tuesday that India will overtake the European Union by 2030 and become the world’s third-largest energy consumer, with India contributing the largest share of energy demand growth for the next two decades. The IEA said in India Energy Scenario 2021 that by 2040, primary energy consumption will increase to about 112.3 million tonnes of oil, which is double the current level. GDP is estimated to be $8,600 billion by this time.

India is now the fourth-largest energy consumer

At present, India is the fourth largest global energy consumer after China, the United States and the European Union. The report said that by 2040, India’s GDP growth will be at par with Japan’s economy and by 2030, India will overtake the European Union in third place. According to the report, from 2019 to 2040, about a quarter of the increase in global energy demand will come from India, which is more than any other country.

Electricity consumption increased by nearly six percent in January

It is known that electricity consumption in the country rose by six percent in January this year to a three-month high of 111.43 billion units. This indicates a spurt in economic activity. According to official figures, electricity consumption in January last year was 105.15 billion units. Apart from this, the maximum demand for electricity increased by 11 percent to 1,89,640 MW in January 2021, compared to 1,70,970 MW in January last year. On January 30 this year, the maximum power demand had reached 1,89,640 MW.

After six months, electricity consumption increased by 4.5 percent and 11.6 percent respectively in September and October last year. Growth in electricity consumption slowed to 3.12 percent in November 2020. The main reason for this was the early arrival of winter. Electricity consumption increased by about five percent in December. According to experts, the increase in electricity consumption by about six percent in January and the maximum demand to reach 1,89,640 is evidence that most economic activity has now reached the pre-epidemic level.