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