From Asia Times Online:
In the words of Indian Prime Minister Manmohan Singh, “China is ahead of us in planning for its energy security – India can no longer be complacent.” These words conveyed the sense of urgency that India holds over meeting its energy needs.
India is playing catch-up with other major players in the global energy game. This realization has not come a moment too soon, given the advent of rising oil prices, India’s unprecedented growth levels, lack of energy-efficient technologies and reliance on energy-heavy industries for its development.
Power shortages and blackouts continue to plague India’s major cities and undermine the confidence of investors and foreign companies operating in India. These power shortages have been fueled by a combination of burgeoning growth rates, inefficiencies by the state-run power sector and power being stolen or siphoned for votes. The growing popularity of gas-guzzling sports utility vehicles and multi-purpose vehicles in India is also placing strains on its energy needs.