Letter from India: Prosperity and sustainability make uneasy bedfellows
Burgeoning middle class and long-term growth from a low base at odds with energy transition efforts
Visits to India never fail to leave the impression of fast growth, dynamism and people in a hurry to get richer. The big-picture numbers are certainly impressive: GDP growth is likely to be about 5% in 2023 and 6% in 2024, according to OECD data. Looking ahead, the pace could accelerate even further to 7% through the rest of the decade. India surpassed China earlier this year to become the world’s most populous country, with more than 1.43b people. The population will continue to grow to 2063, when it will peak at 1.66b, according to the UN. The proportion of the population living in energy-hungry cities will grow from 36% in 2022 to 53% in 2050, while per capita income is expected to triple

Also in this section
11 June 2025
Petroleum Economist analysis shows OPEC bringing back some barrels in May, but fewer than expected, while OPEC+ continues to see output fall
10 June 2025
The bloc may find it very difficult to replicate Japan’s approach due to fundamental differences in policy and the markets
10 June 2025
Scapegoating foreign buyers will not solve country’s gas shortages
10 June 2025
US gasoline consumption is at its highest level since before COVID, but while stocks remain healthy, the hurricane season threatens