India needs to invest in energy mix & power networks: IEA analyst

Michael Waldron also says that India is the fastest-growing major energy investment market

The Paris-based inter-governmental International Energy Agency (IEA) has in its latest report indicated a decline in investment in the oil and gas sector for a second year and increase in energy efficiency and energy networks. India, it says, is the fastest-growing major energy investment market. Michael Waldron, energy investment analyst at the IEA, to Shreya Jai on the subject. Edited excerpts:

While investment in electricity is more than in oil & gas, it has contrasting trends. Would renewables fuel its growth?

Investment in electricity declined by one per cent in 2016 but it looks more because the investment in hydrocarbons came down.