Taxation in India
The IEA India Special Report 2021 reports that: India is the world’s third largest energy consuming country, thanks to rising incomes and improving standards of living. Energy use has doubled up since 2000 with 80% of demand still being met by coal, oil, and solid biomass. On a per capita basis, India’s energy use and emissions are less than half the world average, as are other key indicators such as vehicle ownership, steel, and cement output. As India recovers from a Covid – induced slump in 2020, it is re-entering a very dynamic period in its energy development.
Over the coming years, millions of Indian households are set to buy new appliances, air conditioning and vehicles. India will soon become the world’s most populous country adding the equivalent of a city the size of Los Angeles to tits urban population each year. To meet growth in electricity demand over the next twenty years, India will need to add a power system the size of the European Union to what it has now.
In recognition of the opportunities and challenges in the Indian energy sector, Hugh Fraser International (HFI) in association with Metwand Chambers Law Office in Mumbai has launched its India Ventures Initiative (INDVI). The third article in our “Roadmap to Successful Ventures in India” programme has been launched and the new topic from energy specialist Mukund Puranik, is the India taxation framework with specific focus on the energy sector.
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