Tokyo: Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, in his opening remarks at the Japan-India energy talks in Tokyo said that India expects its energy demand to remain strong, though increased energy efficiency may keep the pace of demand growth below economic growth.
He expected sustainable economic growth of 9% a year over the next five years, requiring increased energy availability.
He also added that, “We are taking steps to moderate intensity of energy use, clearly pointing out that growth of energy is much less than growth of GDP.”
India’s oil demand in 2007 is expected to rise by 3.4% from last year to about 2.7 million barrels per day, the West’s energy watchdog International Energy Agency said in its latest monthly Oil Market Report.
Mr Ahluwalia also met his Japanese counterpart, Trade Minister Akira Amari and had extensive talks on the energy scenario of both countries.