THE ENERGY SECTORS IN INDIA: A PATH TO ENERGY INDEPENDENCE: RATUL PURI

India has one of the world's fastest-growing economies, which has led to a huge rise in the country's energy needs. It is now necessary for the nation to achieve complete energy independence. This calls for multifaceted activities on several fronts, including energy production, energy efficiency, and well-thought-out policy changes.

Currently, coal is used to meet about 55% of India's energy needs. This resource cannot be replenished. From 249 million tonnes in 2019–20 to roughly 218 million tonnes in 2022–2023, coal imports have significantly decreased. This was made feasible by a rise in domestic output, which reached an estimated 893 million tonnes in 2022–2023. By 25 or 26, the administration wants to expand this by 1.3 billion tonnes.

The Transport Industry-

Crude oil, which is largely utilised in non-renewable energy sources, is one of India's main energy sources. In 2022–2023, imports will account for a record-high 87% of domestic consumption due to the enormously expanding demand for fuel. One of the ways to lessen the nation's reliance on oil may be to increase the use of electric vehicles (EV). The Indian government has already begun to broaden its policy to encourage the usage of electric vehicles more. The establishment of infrastructure for charging stations, battery manufacturing, and exchange facilities is being funded by the government. This will help the nation develop sustainably and get closer to energy independence, combined with the promotion of appealing ads for electric vehicles.

In addition, broad ethanol blending offers India a triple win by creating jobs in agriculture, significantly cutting foreign exchange outlays, and lowering costs.

Making Use of Renewable Energy-

In the long run, renewable energy sources like solar, wind, water, etc., will be beneficial. Our nation's proximity to the equator grants us about 300 days (or 10 months) of sunshine annually. India is a desirable location for the production of solar electricity due to its vast amounts of undeveloped land. The nation's about 7500 km of coastline offers a variety of promising offshore wind choices, and hydropower has the capacity to produce about 145,000 MW. By lowering the reliance on nonrenewable energy sources, further developing these sources will aid in the pursuit of energy independence.

The Future Journey and the Important Milestones-

With new technology and capacity being added every single day, India is currently the fourth largest wind power generator and the fifth largest solar electricity generator in the world. Additionally, there have been developed nuclear power capacity of about 6.78 GW. About 42% of the nation's electricity is produced by green energy. Through investments and government incentives, this has prospered.

Strengthening the Regulatory Environment-

The projects and start-ups related to the generation of clean energy and its storage are both supported by the Indian government. In the end, this will assist India in gaining its position in the global market for green energy and power. The initiatives will help increase India's energy independence. As a result, the GDP of the nation will rise, we'll become a major player on the international stage, and we'll become energy independent.

Ratul Puri, the Chairman of Hindustan Power Projects Pvt. Ltd.

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