Two wars are currently on, one for the hearts and minds of India and another between Iran and Israel that could impact oil trade, cripple supplies if the Strait of Hormuz is blocked, and possibly lead to a rise in oil prices that will inevitably affect political sentiment in India in the ongoing election. What do you think?
Two seemingly unrelated questions― 'seemingly', I choose my words carefully. But conceptually, there is an umbilical cord that binds the two... This election captures best, the evolution of India from 2014 to 2024. The prime minister put it very well the other day when he said 2014 was fought on hope. 2019 was fought on delivery. But in 2024, you can see the before and after effects.
Coming to the energy front, if the economy is doing well, it is axiomatic that you need much higher levels of energy consumption. Conversely, if energy purchase is going down, as in the case of the world's second-largest economy, that also tells you something. Here, it is a phenomenal story. Take three fronts: Availability of energy, affordability of energy and sustainability of energy. On all three fronts, India has a good story to tell. India's energy consumption is three times the global average. In the next 20 years, 25 per cent of the increase in demand for energy around the world is going to come from India.
This story is from the April 22, 2024 edition of Business Standard.
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This story is from the April 22, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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