How is the Indian economy serving 18% of the world’s population while targeting a $5 trillion goal?
Click to start listening
Synopsis
India is making strides towards a $5 trillion economy while supporting 18% of the global population. Prof Ajay Kumar Sood emphasizes the essential link between energy consumption and development, advocating for innovative approaches in the energy sector to meet future demands and sustainability goals.
Key Takeaways
- India supports 18% of the world's population.
- The goal is to achieve a $5 trillion economy.
- Development is closely linked to energy consumption.
- India’s average HDI is around 0.67.
- Current energy consumption is 21 gigajoules per person annually.
- 56 gigajoules per person is needed to close the development gap.
New Delhi, Dec 14 (NationPress) India is currently supporting nearly 18 percent of the global population as it strides towards its ambitious objective of becoming a $5 trillion economy, stated Principal Scientific Advisor to the Government of India, Prof Ajay Kumar Sood.
He emphasized the close relationship between development and energy consumption, underscoring the necessity of innovation in the energy sector for India's future progress.
“The Indian economy supports about 18 percent of the world’s population while aiming to achieve the $5 trillion economy goal,” Prof Sood remarked during his speech at the inaugural DV Kapur Foundation Energy Innovation Awards.
In his address, Prof Sood highlighted the strong correlation between a nation’s Human Development Index and its energy consumption.
He noted that India's average HDI is approximately 0.67, in stark contrast to nearly 0.9 in developed countries.
“Currently, India utilizes about 21 gigajoules of energy per person each year, while to close the development gap, nearly 56 gigajoules per person would be necessary,” Prof Sood pointed out.
He urged for immediate actions and showcased how India’s innovation ecosystem is advancing, especially in deep-tech research, with the establishment of the Anusandhan National Research Foundation as part of the vision for a Viksit Bharat.
Prof Sood recognized innovators who have made significant contributions towards technological advancements aimed at fulfilling India’s increasing energy demands while adhering to long-term sustainability objectives.
The awards were divided into two categories: Category 1 acknowledged young innovators under the age of 38, while Category 2 honored individuals or organizations for their technological innovations within the energy sector.
Dr Suresh Prabhu, former Union Minister and Chairman of the DV Kapur Foundation, discussed the evolving landscape of energy innovation in India and commended the visionary contributions of Dr D V Kapur during his tenure as the founding Chairman of NTPC.
He also praised the establishment of the Energy Innovation Awards to promote significant research and innovation.
Point of View
It is essential to recognize India's significant role in the global economy. With nearly 18% of the world’s population under its banner, the nation’s pursuit of a $5 trillion economy reflects its commitment to innovation and sustainability in energy consumption. This strategic vision aligns with global development goals, making it a pivotal moment for India on the world stage.
NationPress
14/12/2025
Frequently Asked Questions
What is the current goal of the Indian economy?
India aims to become a $5 trillion economy while supporting nearly 18% of the world's population.
What is the significance of energy consumption in development?
Energy consumption is closely linked to a country’s development, with higher energy use often leading to better Human Development Index (HDI) scores.
What is India's average HDI?
India's current average HDI stands at around 0.67, compared to nearly 0.9 in developed countries.
What is the current energy consumption per person in India?
Currently, India consumes about 21 gigajoules of energy per person annually.
How much energy is required to bridge the development gap?
To bridge the development gap, nearly 56 gigajoules of energy per person would be necessary.
