Centre outlines plan to meet the energy requirements of 2047 India

THE Union Ministry of Petroleum and Natural Gas has outlined a strategic plan to meet India’s energy needs by 2047, the year the government aims to attain ‘developed nation’ status.

In a recent meeting, the ministry discussed pathways to develop a unified strategic vision for shaping India’s energy future and aligning national priorities with key Indian and global energy trends, Petroleum and Natural Gas Minister Hardeep Singh Puri said on X on Thursday.

The meeting gains significance as it has been held in the backdrop of the ongoing tariff wars and geopolitical tensions.

"In an insightful strategic plan, we outlined the pathbreaking changes India needs to introduce to meet the energy needs of 2047.

The presentation discussed pathways to develop a unified strategic vision for shaping India’s energy future; align national priorities with key Indian and global energy trends, how to Make in India for the World, advancing energy self-reliance and sustainability through reforms, enhance domestic output, value maximisation of mature fields, and create future-ready energy ecosystems in the country, said his tweet.

“We also discussed ways and the need for strengthening the @PetroleumMin organization and capabilities for future readiness to be able to deliver,” he added.

India's energy demand has been growing and has touched new record levels in the past few years. According to data from the Petroleum Planning and Analysis Cell, India's petroleum product demand continues to remain robust, with consumption seen at a record 252.9 million tonnes for the ongoing fiscal year (2025-26). This is 4.65% higher than the 241.8 million tonnes projected for 2024-25, driven by key transport fuels petrol and diesel.

This would be the third year in a row that India's petroleum product consumption has hit a record high.

At a time when global oil demand is expected to taper down in the years ahead amid economic slowdown concerns and the transition towards electric mobility, India has emerged as one of the few outliers.

To be sure, the transition to electric mobility, having started only recently, is expected to gain pace and penetrate the automobile market in a significant way going forward.

According to the International Energy Agency (IEA), India’s demand for oil will increase more than any other country at a million barrels per day (bpd) over the next five years, making it the main driver of global demand growth.

The meeting for charting the plan to meet the long-term energy demand also gains significance as India aims to become the refining and petrochemical hub of the world.

India's oil refining capacity is expected to reach 309.5 million metric tonnes per annum by 2028, from the current 256.8 MMTPA. India is also an exporter of petrol and diesel, among other petroleum products.