The 4th World Energy Investment (WEI) report published by International Energy Agency (IEA) highlights that investment in India’s energy sector has grown the most in the last three years. The USA accounted for the most growth in the energy supply investment this decade with India being the second in the decade.
However, in the last three years India has invested the most as compared to China or the USA. The report states that India’s investment in the energy sector grew at a record of 12% (2015-18), to around $85 billion. Globally, spending on non-renewable resources has increased resulting in a counter-balance to the investments made in the renewable sources. This has led to an imbalance between the current trends on one hand and the sustainable development goals (SDGs) and the Paris Agreement on the other.
Where India deserves rich praise is in the way it has boosted investment in the renewable energy sector—in the last three years, the country’s investment in renewable sources have surpassed investments in fossil fuels. Read More
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