Competitive manufacturing centres are needed to ensure the cost of low-carbon technologies continues its precipitous fall over the past decade.

If the energy story of the first two decades of this century was China, that of the period to 2050 will be India.

Over the next two decades, the South Asian giant will see more energy demand growth than any other country, and will add capacity equal to the entire European Union’s electricity system by 2040.

New Delhi’s decisions, and how the rest of the world interacts with India, are crucial for achieving the linked goals of energy security, access and limiting climate change.

India’s population is estimated to have overtaken China’s this January. GDP growth of about 7% this year should outstrip its northern neighbour’s 5%. China’s maturing demographics, the bursting of a real estate bubble, and trade disputes will limit its future potential, while India powers ahead.

The Centre for Economics and Business Research forecasts that by 2035, India will join China and the US as a $10 trillion economy.

Read the full article and the referenced Cebr World Economic League Table 2023 report.