India embracing energy transition to achieve energy independence

Vikram Gandotra, Chair-World Utility Summit 2023 & Member of – the National Executive Council, IEEMA, talks about increasing electricity consumption and technological advancement in the electricity and electrical segment.
How do you evaluate the demand-supply scenario in the Indian energy sector?
Today, energy is produced via a variety of means. Compared to one million tonnes of oil, the estimated cost of electricity is $654. This assessment of the energy that exists in every nation is expected to rise through the year 1954. As a result, our energy needs are 920 million tonnes of oil equivalent, and they are expected to climb to 1900. Electricity is utilised for various reasons, including cooking and other activities, whether in industry,
transportation, buildings, or any different structure. If a result, as power demand rises, a sector will become greener overall.
Currently, electricity contributes 42 percent of total energy; by 2047, this number is expected to rise from 63
percent to 65 percent. India’s energy consumption will increase by 2.1 times. Electricity demand will more than double in the next 25 years. India can dominate the green hydrogen storage value chain.

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