IEA's 'World Energy Outlook 2024' Projects India to Become World's Third-Largest Economy by 2028. International | Dated: 28 Oct 2024 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. 🎯 Key Highlights: - 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. 💡 Other Important Facts: (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. 📚 Test Your Knowledge: According to IEA's 'World Energy Outlook 2024', what ranking will India achieve in terms of economy by 2028? Correct Answer: 3rd 🚀 Quick Recap: About the International Energy Agency (IEA) Executive Director (ED): Fatih Birol Headquarters: Paris