7. Energy

Energy is a key driver of economic growth. Sustainable, stable and reasonably priced energy is essential for the fruits of economic development to reach the bottom of the pyramid.

India is the fourth largest consumer of energy in the world after USA, China and Russia. In 2015, India had overtaken Japan as the world’s third largest oil consuming country behind US and China. However, India is not endowed with abundant energy resources. It must, therefore, meet its development needs by using all available domestic resources of coal, uranium, oil, hydro and other renewable resources, and supplementing domestic production by imports. Meeting the energy needs of achieving 8-9% economic growth while also meeting energy requirements of the population at affordable prices, therefore, presents a major challenge.