India ranks 90th in terms of energy security, access: WEF Report
India has been ranked at the 90th place in a list of 126 countries on the basis of their ability to deliver secure, affordable and sustainable energy.
It was revealed by Global Energy Architecture Performance Index (GEAPI) Report compiled by World Economic Forum (WEF).
Key facts
- Top 10 countries in GEAPI Report: Switzerland (1st), Norway (2nd), Sweden (3rd), France (4th), Denmark (5th), Austria (6th), Spain (7th), Colombia (8th), New Zealand (9th) and Uruguay (10th).
- Among the BRIC nations: Brazil (25th), Russia (52nd), India (90th) and China (94th).
- The report has noted that major global economies have performed less well on the index with the exception of France which was placed at the 4th place.
- It also mentioned that large emerging economies are pressed both by the build resilient and sustainable energy architecture and need to support economic growth.
- Over the last decade, world energy production and imports rose by 3,200 million tonnes of oil equivalent and was driven by boom in the Asian economies and led by China and India.
- Fuel trade patterns: They have dramatically changed during the last decade.
- Asia accounted for 35% of the world fuel trades in 2014, increased by 15% as compared to 20% of the world fuel trades in 2004.
- Regarding India: The report has noted that India is facing a vast array of challenges in the power sector in order to meet its growth targets.
- However electrification appears to have progressed in India. The proportion of the population covered in electrification in the past 6 years has increased by 4% points to 79%.
GEAPI Report: It was prepared in collaboration with Accenture. It has explored the energy architecture of 126 countries. It is based on their ability to provide energy access across three dimensions of energy triangle viz. affordability, security, environmental sustainability and access.
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Month: Current Affairs - March, 2016