INDIA AND ENERGY IN 2030

INDIA WILL BE WORLD'S 3RD LARGEST ECONOMY BY 2030: BP

The Deccan Herald, February 27, 2012

India will world's third largest economy by 2030 but its energy demand will slow down to 4.5 per cent, global energy giant BP plc said today.

"By 2030 China and India will be the world's largest and third largest economies and energy consumers, jointly accounting for about 35 per cent of global population, GDP and energy demand," BP's chief economist Christof Ruhl said releasing BP's Energy Outlook 2030.

There would be "no surge in energy demand as India industrialises. Demand growth slows to 4.5 per cent per annum (vs. 5.5 per cent p.a. in 1999-2010) as improvements in energy efficiency partly offset the energy needs of industrialisation and infrastructure expansion."

India's dependence on imports to meet its gas needs will jump to 47 per cent by 2030 while the same for oil will grow to 91 per cent. The nation will be 40 per cent dependent on imports to meet its coal needs.

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