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India's sustained high growth rate will depend on its ability to transform its industrial base and energy system, Adnan Amin, Chairman of the World Energy Council, has said, noting that the addition of renewables has grown dramatically in India.
Amin, who was the CEO of COP28, said India should lay emphasis on industrialisation, technological innovation, and creating an ecosystem capable of supporting momentum in the energy transition. "It's (India is) a fast-growing economy. It's an economy that will need to sustain its growth rate over time, and that growth rate will depend on its ability to transform its industrial base and its energy system. I think that all of the various elements that could enable India to do that are in place," Amin said, in an interaction for ANI. Asked about China's pace of clean energy deployment and if India can replicate that scale, he said China has made remarkable progress and has invested in this area for a long time and it's been driven by a very stable and very predictable industrial policy. "The addition of renewables has grown dramatically in India. It has democratized energy, and we are seeing the beginnings of infrastructure development, grid updates that are going to create this new reality. I think what is really required in India is much more of an emphasis on the industrialisation, on technological innovation, and on creating an ecosystem that is capable of supporting rapid development and rapid momentum on energy transition," Amin said. He said that with the scientific and technological capabilities that exist in India, this is achievable. Amin suggested creating a planning framework that incentivises investment and also creates opportunities for affordable energy "With the energy demand that exists in India, I believe rapid growth can happen, but it will require a reliance on planning, really establishing a kind of planning framework that incentivises investment and also creates opportunities for affordable energy to the population that currently is energy poor," he said. Touching upon the AI aspect that can shape up the energy domain, Amin said artificial intelligence (AI) will be "revolutionary for the energy industry". He described it as a transformative moment, similar to the rise of mobile technology. "I think the advent of AI is going to be revolutionary for the energy industry. And in my mind, it's a little bit like - when we got mobile telephony. When we had a fixed landline infrastructure, it was very hard for people actually to get access to telephony. With the mobiles, it was revolutionary," Amin said. He said AI offers "the opportunity for developing countries in terms of planning their energy infrastructure, in terms of making their energy infrastructure efficient, in terms of designing a bridge for the future." He stated that countries like India, which have made significant strides in the field of AI, are well-positioned to benefit from this technology. (ANI)
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