Economy in India 2020

Topics: Energy development, Nuclear power, World energy resources and consumption Pages: 3 (969 words) Published: July 31, 2013
India by and large is endowed with untapped abundant resources, with its strategic locations straddling the continent of Asia and the growing prominence of the Middle East. A nation with unique multicultural and religious denomination, I can only say that this sub-continent country can become a Superpower economy by 2020.

First, we set our sights to the Energy sector specifically India's biofuel industry. It is an established fact that the country is the "world's seventh largest energy producer, accounting for about 2.49% of the world's total annual energy production." In this regard, the need for an alternative energy source is equally important in making India a superpower status by the year 2020. I have no doubt, this sector will play a vital role in the India's energy future, with the recent approval of National Biofuel Policy by the Indian government. This national policy establishes targets, specific definition of biofuel, the raw materials to be used, balanced land use policy with regards to food security and energy security, establishment of marketing and purchasing mechanism, financial incentives, research & development and quality control & assessment. With this policy in place, biofuel would indeed be one of the pillars of the energy sector.

As far as nuclear energy is concerned, India is considered to be in league with other established nuclear powers in the world. With their proven knowledge in nuclear power, India can move forward by harnessing this power by re-channeling nuclear know-how and thereby contributing to reduce gas emissions in the world, improve air quality around India and provide much needed energy to fuels its rapidly expanding economy.

In the field of alternative energy, India has committed to "increasing solar power generation, improving energy efficiency and enhancing carbon sinks as a route to "greener growth" and "laid out an ambitious plan to generate 20GW of solar power by 2020, which could equate to 75% of the...
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