India to top the energy demand

India is taking the lead in energy demand as the country expected to take on more oil than any other countries where energy use is seen to be declining, the International Energy Agency (IEA) said.

IEA also said that since China is in the midst of economic lull, India emerges as a major driving force in global trends, with all modern fuels and technologies playing a part.

India’s economy is also expected to leap up five-fold in 2040, and at the heels of this, its total energy demand more than doubles and its gas consumption, triples. IEA mentioned, adding that the country’s coal consumption is also on the upswing, which, on the other hand may pose challenge to the country’s sustainable energy thrusts.

A related report said that in October this year, the Asian Development Bank (ADB) signed a US$200 million loan agreement with New Delhi to support its clean energy programmes – the first instalment of the US$500 million lending programme for India to support renewable energy projects ranging from wind to biomass energy.