The Indian Government has announced plans to invest US$67bn to develop the energy sector in the next 5-6 years, aiming to increase the share of domestic gas to a 15% of India’s energy mix.
Considering estimations of a doubling energy demand by 2045, the government has revealed plans to meet the growing demand by pledging around INR11,000bn (US$132bn) of the country’s 2024-2025 budget for the development of infrastructure needed for the growth of the energy sector, with INR5,500bn dedicated to increasing the percentage of gas in the primary energy mix from 6% to 15% by 2030. With this move, the country aims to attract foreign investors and to help its transition towards a net zero carbon emission by 2070.
In 2022, gas only accounted for less than 6% of India's energy mix, which is dominated by coal (45%), oil (24%) and biomass (21%). Coal also dominated India’s power mix (73%), while gas only accounting for 2% of the country's power generation.
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