The Power sector of India has been through many phases like Nationalization Stage, liberalization stage, and growth era. Currently, India stands to be the 3rd largest producer and consumer of electricity in the world, and companies like Reliance Industries Limited and IOC have also been ranked highly in Global Energy Rankings. Electricity generation has grown at a CAGR of around 3% from FY16 to FY20.
Also, with initiatives like UJALA, India is on its way to become the world’s first country to use LEDs for lighting needs.
In this analysis of the industry, we dig deeper into understanding how the industry has grown, the advantages that India has, policy support by the government, and future prospects for the industry.