India’s energy demand expected to grow 2.5 times by 2047: Hardeep Puri

India's energy trajectory is undergoing a transformative shift, and Petroleum and Natural Gas Minister Hardeep Singh Puri's recent projection that energy demand will grow 2.5 times by 2047 serves as a critical milestone in understanding the nation's developmental roadmap. This forecast aligns directly with the vision of 'Viksit Bharat 2047' — the government's ambition to transform India into a developed nation by the centenary of independence. Historically, India's energy consumption has been relatively low per capita compared to global averages, but rapid urbanization, industrial expansion under initiatives like 'Make in India' and the Production Linked Incentive (PLI) schemes, rising middle-class aspirations, and the push for electric mobility are fundamentally altering this equation. The International Energy Agency (IEA) has consistently identified India as the largest source of global oil demand growth through 2030, reinforcing the Minister's assertion. As the world's third-largest consumer of energy and oil — after the US and China — and the third-largest refiner with a refining capacity exceeding 250 million metric tonnes per annum (MMTPA), India is no longer a passive buyer but a price-influencing player in global hydrocarbon markets. Its position as the fourth-largest LNG importer further underscores its integration into global gas trade. Key stakeholders include the Ministry of Petroleum and Natural Gas, public sector undertakings like ONGC, IOC, BPCL, and GAIL, private giants such as Reliance Industries and Nayara Energy, and international partners from the Middle East, Russia, and the US. The recent strategic diversification — increasing crude imports from Russia post-2022 while maintaining traditional ties with Saudi Arabia, Iraq, and the UAE — reflects a pragmatic energy diplomacy. Constitutionally, energy falls under the Concurrent List (Entry 38, List III, Seventh Schedule), enabling both Centre and States to legislate on electricity, while oil and gas remain largely under Union control (Entry 53, List I). The Electricity Act, 2003, the Petroleum and Natural Gas Regulatory Board Act, 2006, and the recently amended Energy Conservation Act, 2022 — which empowers the Bureau of Energy Efficiency (BEE) and introduces carbon credit trading — form the legal backbone. The National Green Hydrogen Mission (2023), with an outlay of ₹19,744 crore, and the target of 500 GW non-fossil capacity by 2030 (announced at COP26) highlight the dual pursuit of energy security and climate commitments under the Paris Agreement. Economically, managing this 2.5x demand surge without compromising fiscal stability or energy access is paramount. High import dependence (over 85% for crude oil) exposes the current account deficit to global price shocks. Strategically, India's engagement with the International Energy Agency (IEA) as an Association country since 2017, leadership in the International Solar Alliance (ISA), and participation in the India-US Strategic Clean Energy Partnership reflect its growing geopolitical clout. Future implications include massive infrastructure investment in pipelines (like the Urja Ganga gas grid), city gas distribution (CGD) networks covering 98% of population, strategic petroleum reserves expansion, and a decisive shift toward green hydrogen, biofuels (20% ethanol blending by 2025-26), and nuclear energy (target: 22.48 GW by 2031). The challenge lies in balancing affordability, sustainability, and self-reliance — the core of 'Atmanirbhar Bharat' in energy.