India must increase electrification from less than 20% to 40% over the next decade to support its goal of becoming a developed nation by 2047, Vineet Mittal, Founder and Chairman of Avaada Group, said at the NDTV World Summit 2026.
Speaking to NDTV's Ambika Singh Kahma during a session titled "Powering 2047: The Energy Decisions Defining India", Mittal said India needs to reduce its dependence on imported fuels to become a developed nation by 2047.
The Avaada Group Chairman said India imports nearly $200 billion worth of oil and gas every year, which puts pressure on the country's current account deficit. He added that the country imports around 80% of its fuel.
"Along with huge economic growth, we need energy independence," he said, adding that India has an advantage because it has abundant sunlight, wind, water and human talent.
Mittal also pointed out that less than 20% of India's total energy use is in the form of electricity. He said India needs to increase electrification and use more electricity, including electricity generated from clean sources, to reduce its dependence on imported fuels.
Mittal emphasises that round-the-clock green power is currently among the cheapest sources of energy in India and government and private developers have shown that clean energy can be supplied throughout the day.
He said fixed electricity tariffs over 25 years can also help people manage costs in the long run. "So I think it solves for the three E's - economic growth, energy substitution as well as in an environmental friendly fashion," Mittal said.
He added that India needs to grow its economy without harming the environment.
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Speaking about green hydrogen, Mittal said the technology to use cleaner fuels in vehicles already exists. It can be used in fuel cells or combined with carbon dioxide to make green methanol.
Mittal said the Indian Institute of Science has developed technology for engines that run on green methanol. He added that the technology has been shared with companies, including Ashok Leyland.
"Ashok Leyland already makes trucks that run on green methanol," he said.
Mittal explained that green hydrogen can also be used directly in fuel cells to run vehicles. However, making these fuels more affordable remains an important challenge.
The chairman said Indian cities and districts should produce more of their own electricity instead of depending entirely on power supplied from other places. He referred to the "One Sun, One World, One Grid" initiative and said countries could benefit from sharing solar and wind energy through connected power grids.
He said India has 802 districts and many of them could set up solar plants and storage facilities to meet their electricity needs.
Mittal added that states such as Rajasthan, Gujarat, Maharashtra, Tamil Nadu and Karnataka could combine solar and wind power with storage to provide electricity throughout the day. He also spoke about the growing demand for electricity from artificial intelligence (AI) and data centres, adding that India generates around 20% of the world's data outside China but has only about 2% of the world's data centre capacity.
He said India needs to build more data centres within the country and ensure they have access to reliable and clean electricity.
"India has almost 10 or 20 large-scale companies which can provide round-the-clock green power for this data centre," Mittal said.
He added that green energy companies are already using AI to manage electricity supply and plan power distribution at 15-minute intervals. "AI for energy and energy for AI, both are happening in India," he said.
"India's 2047 ambition will also be shaped not just by how much energy we produce, but by how reliably, affordably, and cleanly we can deliver," Mittal added.
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