ENERGY SECURITY: A KEY CHALLENGE TO INDIA'S ECONOMIC DEVELOPMENT

Abstract

India's economic development is closely tied to its energy security, a critical factor in sustaining growth and prosperity. With a rapidly expanding economy and a population exceeding 1.3 billion, the country's energy demands are escalating at an unprecedented rate. However, India faces numerous challenges in ensuring a stable, affordable and sustainable energy supply. The nation's heavy reliance on fossil fuels, particularly coal and its dependency on energy imports make it vulnerable to global market fluctuations and geopolitical uncertainties. Additionally, environmental concerns, infrastructure constraints and policy hurdles further complicate the energy security landscape. This paper examines the multifaceted nature of energy security in India, highlighting the current energy scenario, identifying key challenges and proposing strategies to bolster energy security while promoting sustainable economic development. By addressing these challenges through diversification of energy sources, investment in renewable energy, enhancement of energy efficiency and policy reforms, India can secure a reliable energy future and pave the way for continued economic growth.