India is expected to emerge as one of the world’s most influential energy markets over the next decade, accounting for nearly half of global oil demand growth and a significant share of rising electricity consumption, according to Igor Sechin, chief executive of Russian oil giant Rosneft.
Speaking about long-term energy trends, Sechin said India’s rapidly expanding economy, urbanisation and industrial growth would make the country a key driver of global energy demand through 2035.
India to Lead Global Oil Demand Growth
According to Sechin, India will contribute around 50 per cent of the increase in global oil demand over the next decade, underscoring its growing importance in international energy markets.
He projected that India’s oil consumption would rise by approximately 44 per cent, reaching nearly 8 million barrels per day by 2035.
The forecast reflects increasing demand from transportation, manufacturing, petrochemicals and other energy-intensive sectors as the country’s economy continues to expand.
Rising Power Consumption to Fuel Energy Needs
Beyond oil, India is also expected to account for around 15 per cent of the increase in global electricity consumption during the same period.
The surge in power demand is likely to be driven by rapid urbanisation, rising household incomes, expanding industrial activity and growing adoption of digital technologies.
As one of the world’s fastest-growing major economies, India is expected to remain a central focus for global energy producers, investors and policymakers.
Strategic Importance for Global Energy Markets
India is already among the world’s largest energy consumers and crude oil importers. Continued growth in demand is expected to strengthen its role in shaping global energy trade flows and investment decisions.
The country’s expanding energy requirements are also likely to influence international discussions on energy security, supply diversification and the transition toward cleaner sources of power.
India’s Growing Share of Future Demand
The projections highlight how future growth in global energy consumption is increasingly shifting toward emerging economies, particularly in Asia.
With oil consumption projected to approach 8 million barrels per day and electricity demand continuing to climb, India is expected to remain one of the most critical markets for the global energy industry over the coming decade.
