Indian Economy Serves 18 Pc Of World's Population As It Aims $5 Trillion Goal: Prof Ajay Sood

(MENAFN- IANS) New Delhi, Dec 14 (IANS) India is supporting nearly 18 per cent of the world's population while moving towards the ambitious goal of becoming a $5 trillion economy, Principal Scientific Advisor to the Indian Government Prof Ajay Kumar Sood has said.

He underlined that development and energy consumption are closely linked, making innovation in the energy sector crucial for India's future growth.

“The Indian economy serves nearly 18 per cent of the world's population while pursuing the goal of becoming a $5 trillion economy,” Prof Sood said while speaking at the First DV Kapur Foundation Energy Innovation Awards here.

During his address, Prof Sood pointed out that a country's Human Development Index is strongly connected to its energy use.

He said India's average HDI stands at around 0.67, compared to nearly 0.9 in developed nations.

“At present, India consumes about 21 gigajoules of energy per person annually, while bridging the development gap would require nearly 56 gigajoules per person,” Prof Sood noted.

He called for urgent action and highlighted how India's innovation ecosystem is evolving, especially in deep-tech research, with the introduction of the Anusandhan National Research Foundation as part of the vision of a Viksit Bharat.

He felicitated innovators who have contributed to technological advancements aimed at meeting India's rising energy needs while supporting long-term sustainability goals.

The awards were presented in two categories. Category 1 recognised young innovators below the age of 38, while Category 2 honoured individuals or organisations for technological innovation in the energy sector.

Former Union Minister and Chairman of the DV Kapur Foundation Dr Suresh Prabhu spoke about the changing landscape of energy innovation in India and praised the visionary role played by Dr D V Kapur during his tenure as the founder Chairman of NTPC.

He also lauded the idea of instituting the Energy Innovation Awards to encourage meaningful research and innovation.

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