IEA's 'World Energy Outlook 2024' Projects India to Become World's Third-Largest Economy by 2028.

International

The International Energy Agency (IEA) has published its key report, titled 'World Energy Outlook (WEO 2024)', which highlights that India is set to become the third-largest economy in the world by 2028.


      - The report notes that we are entering the "Age of Electricity," with a significant rise in global power demand, particularly in China. By the early 2030s, solar power generation in China may surpass the total electricity demand of the United States.

      - Electric vehicles (EVs) are expected to make up 50% of new car sales by 2030.

     

Main Points:-   (i) Global electricity demand is projected to double by 2050, primarily driven by China's extensive energy transition, according to a statement from Carbon Tracker regarding the IEA's WEO 2024.

      (ii) India is expected to experience a greater increase in energy demand than any other country over the next decade, due to its large population and growing demand across all sectors.


About the International Energy Agency (IEA)

Executive Director (ED): Fatih Birol
Headquarters: Paris
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