Region: East Asia and Pacific (EAP)
Country: India
Sector: Energy and Power
Keywords: Knowledge Lab ***, Energy and Power
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Document Summary:
This report will evaluate the private sector participation potential in electric three-wheeler and electric four-wheeler segment in the city of Kolkata and will provide recommendation in terms of business models, policy measures, and electricity tariff design etc. to accelerate the same.
Document Details:
India is targeting to achieve USD 5 trillion economy in the next five years which will require significant contribution in the GDP from the manufacturing, agriculture, healthcare, services sectors etc. With the economic slowdown due to COVID-19 global pandemic, these sectors need to bounce back to their pre-pandemic growth rate in order to achieve the USD 5 trillion GDP target in the next seven to eight years. This will witness a major transformation in the energy usage pattern as compared to current situation leading to increased dependency on crude oil imports to cater to the increased demand for energy.
With transport sector being one of the biggest consumers of oil and oil products, reduced consumption of crude oil will not only decrease GHG emission and reduce import dependency but will also have substantial positive impact on the sustainable development and energy security scenario of the country. Therefore, transportation sector needs to undergo a significant transformation from oil- based system to a more environment friendly electricity-based system and should involve the entire transportation system including the last mile connectivity in far remote areas. India as a party to the Paris Agreement have well acknowledged the contribution of transport sector and included adoption of Electric Vehicle as a prioritized action item in the country’s NDC.
Updated: April 12, 2022