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The Evolving Energy Scenario
Despite surging demand and larger carbon emissions, India can reduce its dependence on energy imports.
The World Energy Outlook 2023 report, brought out by the International Energy Agency, highlights that the global energy scenario is at an inflexion point. This is because the demand for fossil fuels like coal, oil, and natural gas is expected to peak before 2030. Consequently, clean energy fuels will gain sufficient momentum to usher in a new era as the share of fossil fuels in energy consumption edges down from around 80% now to 73% by 2030. This is both a challenge and an opportunity for an energy-deficit nation like India, which has been heavily dependent on oil and gas imports, with severe consequences for its economy.
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