With improving diplomacy between India and the Middle East, not to mention increased bilateral with countries like the UAE, it comes as no surprise as the Middle East has invested heavily in India in areas like infrastructure, start-ups but most importantly energy.

Share Market Live

NSE

Now, with India’s energy demand expected to grow by 50 percent over the course of the next decade, what kind of impact will Middle Eastern investments in the sector have on India’s economy?

To address some of these questions, Jude Sannith is joined by Debashish Mishra, Partner at Deloitte India, and well-known energy resources specialist.

“Our expectation is that by 2024 the incremental oil consumption in India will be the highest in the world and current consumption will probably double in next few years."

"India currently is consuming in an around 5 million barrel per day and when you are moving towards 9-10 million barrel ultimately it will be a very attractive market for any supplier."

"As the leadership of both the countries have been reiterating in recent times so not only India will get a higher share of its energy supply from UAE also India is expecting that UAE will also have large investment in the India growth story during this time. ”

First Published:Feb 27, 2020 11:32 PM IST