Evaluating the dynamics of India’s energy economy: trends in production, trade, consumption, and sustainability (2013-2023)
Ritu
From 2013 to 2023, India’s energy economy stood at the crossroads of ambition and urgency-grappling with surging demand and fossil fuel dependence, while steadily orchestrating a calculated shift toward a resilient, renewables-led future. Coal remained the backbone of domestic energy production, while crude oil and gas imports surged, exposing economic vulnerabilities. Electricity generation nearly doubled, with a sharp rise in renewable capacity from 34,988 MW to 1,25,160 MW, reflecting policy ambition. However, this growth was uneven-constrained by infrastructure gaps, regional disparities, and energy inefficiencies in transport and agriculture. Industrial energy intensity improved, but the rising Wholesale Price Index in petrol and diesel pointed to inflationary pressures. Despite these challenges, India’s refining efficiency, export performance in petroleum products, and public responsiveness to clean energy alternatives signaled a maturing energy landscape. The study concludes that India's energy future hinges on integrative policy, grid modernization, fiscal reforms, and equitable resource allocation to ensure long-term economic and environmental sustainability.
Ritu. Evaluating the dynamics of India’s energy economy: trends in production, trade, consumption, and sustainability (2013-2023). Int J Foreign Trade Int Bus 2024;6(2):229-238. DOI: 10.33545/26633140.2024.v6.i2c.160