New Delhi: India and China have attained over 8 per cent growth in the World Economic Forum’s Energy Transition Index, according to the latest report from the multilateral body. India along with China witnessed an increase in building renewable energy infrastructure as well as ensuring access to energy, WEF noted.
However, the report flagged coal usage as a challenge to the energy transition preparedness, citing the phasedown schedule for the same. India and China were strongly placed in terms of green technology manufacturing, according to the report.
India outperforms peers
India led its peers in terms of energy equity and sustainability, the WEF said in its report. India’s energy preparedness was distinguished by its strong regulatory framework and political commitment to energy transition, the WEF stated. India also outpaces its peers in terms of renewable energy infrastructure development, financing these projects and investment.
What India can improve
Why heaping praise on India’s political will to push through green energy development, the WEF said the country lagged peers on the following parameters:
Energy security: India’s high dependence on imports was a concern
Education and human capital: This mattered in terms of job creation in the clean energy sector, WEF stated.
Innovation: This was another area in which India lagged its peers and where it could improve in terms of energy transition preparedness, according to the report.
India’s energy transition was equitable, sustainable and secure, the report stated.
India along with China has outpaced peers in Emerging and Developing Asia to register 8 per cent growth on the World Economic Forum’s Energy Transition Index. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
