by Gurmeet Singh
India will host the second edition of India Energy Week (IEW) in Goa from February 6th to 9th 2024, an event that will delve into the energy quadrilemma of balancing security, accessibility, affordability and sustainability, particularly for developing economies.
IEW 2024 will also aim to foster cooperation and collaboration between energy companies, while building the future workforce for a new energy world.
The gathering of global energy stakeholders will contribute towards strengthening India’s position on the world’s energy map, highlighting the country’s potential as the third-largest largest energy consumer in the world, with projections to account for ~25% of the global energy incremental demand growth in the next 15-20 years.
India’s efforts to tackle the twin challenges of energy security and energy transition are widely considered a viable template for the world to follow. However, the dynamic energy landscape continues to pose new challenges for experts and policymakers.
Owing to its size and rapidly growing economy, India is currently at the center of energy demand (third largest crude oil importer) and is poised to be a major driving force for energy markets in the future.
The country is also innovating on the technological and policy front to ensure its vast population has access to uninterrupted and affordable energy.
The world is looking at India’s example to learn from and also contribute to solving various challenges, while exploring opportunities to benefit from the country as a large demand center for new clean energy technologies and conventional energy sources.
(Gurmeet Singh is Director General of Federation of Indian Petroleum Industry)
