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Reproduced from India Energy Outlook 2021, IEA; Chart: Axios Visuals

India is projected to see the biggest increase in energy demand of any country over the next 20 years, a new International Energy Agency report finds.

Why it matters: It's already the third-largest energy-consuming nation, even as per-capita energy use, car ownership and other metrics are far below the global average.

  • There's a "tremendous opportunity for India to successfully meet the aspirations of its citizens without following the high-carbon pathway that other economies have pursued in the past," said IEA head Fatih Birol.

Yes, but: While renewables have been growing, right now coal, oil and solid biomass meet 80% of the country's energy demand, IEA said.

Speeding the transformation of its energy sector is key as new infrastructure is built and huge numbers of people buy new appliances, air conditioners and cars.

The big picture: A couple of snapshots capture the scale of India's expected energy growth.

  • “To meet growth in electricity demand over the next twenty years, India will need to add a power system the size of Europe’s to what it has now.”
  • Under their projections of what happens under existing and announced policies, another 25 million trucks will be on India's roads by 2040, and 300 million vehicles of all types are added.

What we're watching: Future policies and investment. On just the power side, India already has a target of reaching 450 gigawatts of renewables capacity by 2030.

  • But under IEA's climate-friendly "sustainable development scenario," between now and 2040 an additional $1.4 trillion for clean energy tech overall is needed beyond expected investments under current plans.
  • The SDS models expansion of energy access with a mix and policies consistent with the Paris Agreement's goals.

Go deeper

Feb 8, 2021 - World

Interview: Former NSC director Lisa Curtis on America's Indo-Pacific strategy

Photo illustration: Axios Visuals

In her first interview since leaving the National Security Council, where she served from 2017 to 2021 as senior director for South and Central Asia, Lisa Curtis tells Axios that the Biden administration should put democracy promotion high on its agenda in the Indo-Pacific.

Why it matters: The Biden administration has made the Indo-Pacific a top focus of its newly formed National Security Council. That's a continuation from the Trump administration in terms of emphasis, if not necessarily in terms of strategy.

School principals are not OK

Principal Alice Hom (purple jacket) of New York's Yung Wing School P.S. 124 near a vaccination van in November. Photo: Michael Loccisano/Getty Images

The overwhelming majority of secondary school principals experienced frequent stress last school year, according to a RAND Corporation report out Wednesday.

The big picture: The stress levels among female principals and principals of color were especially stark, with nearly 40% in these groups reporting constant job-related stress, compared to about 24% of male principals and 26% of white principals.

It's official: Stock market having worst start to year ever

Data: FactSet; Chart: Axios Visuals

It's been a decidedly ugly start to the year for the stock market, with particular pain in the tech trade.

State of play: As of the end of trading Tuesday — the 16th session of the year — 2022 is now, officially, the worst-ever start in the history of the S&P 500, according to data from Ned Davis Research, a stock market research shop.