India will overtake China as the largest growth market for energy by late 2020s with the country’s energy consumption growing by more than 4.2 per cent per annum, the fastest among all major economies of the world, according to BP Energy Outlook 2018.
While less new coal-fired power plants are now being built in China and India, the planned expansion in the use of coal in fast-growing emerging economies, such as Turkey, Indonesia and Vietnam, will in part cancel out the reduction.
The European Union (EU) and China have this week lodged separate filings with the World Trade Organization (WTO) that seek consultation with the U.S. over the imposition in January of tariffs on imported crystalline silicon solar cells and modules.
One of China’s biggest makers of solar panels said Tuesday it will invest $309 million to expand manufacturing in India in a move to guard against what it complained is a rising threat of import controls in the United States and other markets.
Longi Solar has confirmed it will be the first Chinese solar company to set up manufacturing facilities in India. The news comes just a month after the company said it would invest $300 million in a 5 GW module facility in China.
By some measures, Mexico and Turkey come out as the most attractive emerging markets for 2018.
India was today ranked at the 62nd place among emerging economies on an Inclusive Development Index, much below China’s 26th position and Pakistan’s 47th.
There is a huge opportunity for the US to export LNG to India and China in the next five years as they push to replace coal, the head of the International Energy Agency has said as he highlighted the growing importance of the two nations in the energy market.
China’s natural gas consumption will rise by 10 percent in 2018 to 258.7 billion cubic metres (bcm), China National Petroleum Corp (CNPC) forecast on Tuesday, boosted by a steady push to replace coal with the cleaner fuel to curb air pollution.
China on Thursday objected to Vietnam’s invitation to India to invest in oil and natural gas sector in the disputed South China Sea (SCS), saying it is firmly opposed to infringement of its rights using development of bilateral ties as an “excuse”.