Clean Energy as Economic Statecraft: Ten Strategies for Powering Viksit Bharat 2047

India has crossed a structural threshold: clean energy is no longer a climate choice; it is now economic statecraft. Handled strategically, it can halve economy-wide energy costs and halve fossil-fuel imports by mid-century, converting over US$200 billion per year currently spent on fuel imports into domestic capital formation and infrastructure investment. This would deliver a decisive boost to industrial competitiveness, energy security, and trade stability. Managed poorly, however, it risks remaining a fragmented sectoral transition, leaving India exposed to import volatility, fuel-price shocks, and stranded capital.

Strategic Pathways for Energy Storage in India through 2032

India’s electricity demand is witnessing a rapid surge, nearly doubling every decade, fueled by strong economic growth. Dramatic cost reductions over the last decade for wind, solar, and battery storage technologies position India to leapfrog to a more flexible, robust, and sustainable power system for delivering affordable and reliable power to serve the growing power needs.

Doubling the Pace of Deployment of Renewable Energy Capacity in India

Due to rapid economic growth, urbanization, and industrialization, India’s electricity demand is expected to nearly double in the next decade. The electricity demand in the country has grown at an average of 6-7% in the last three years. 250 GW peak demand was met in May 2024, up from 240 GW in September 2023, and is projected to touch 270 GW in summer 2025.