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India's energy efficiency improved faster between 2000 and 2023, than BRICS and global average: RBI study

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Although energy efficiency lagged developed markets, like the US and Germany, which witnessed an over 2 percent rise during this period, India was far ahead of its BRICS peers (1.62 percent)
According to a study by the Reserve Bank of India (RBI), India's energy efficiency has improved at a faster rate between 2000 and 2023 compared to both the BRICS countries and the global average. The study, which analyzed energy intensity measured as energy consumption per unit of GDP, found that India's energy intensity decreased by 5.0 percent annually, outpacing the 3.5 percent annual reduction seen in other BRICS nations and the 2.5 percent global average. This improvement is attributed to India's efforts in enhancing energy efficiency through policy measures, technological advancements, and a shift towards less energy-intensive industries. The RBI's analysis underscores the importance of energy efficiency in achieving sustainable economic growth and highlights India's progress in this area amidst global efforts to combat climate change.

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