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THE OIL MARKET’S HARD CHARGERS-2: India steers new course toward energy reform

05/21/2007
India is the world’s second most populous country (after China). Its population is projected to increase to 1.46 billion by 2030 from 1.09 billion in 2006. This expansion means an increasing number of energy consumers.India’s energy outlook is further complicated by its robust economic growth. After years of pursuing economic policies based on import substitution and state ownership of key industries, India’s government has embarked on a series of economic reforms since the mid-1990s. This economic liberalization includes a relaxation of restrictions on foreign ownership in some sectors and privatization of some industrial enterprises. These reform policies are considere...
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