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.
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 added that India needs to grow its economy without harming the environment. It can be used in fuel cells or combined with carbon dioxide to make green methanol. He added that the technology has been shared with companies, including Ashok Leyland. 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. 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.
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. Mittal also pointed out that less than 20% of India’s total energy use is in the form of electricity. He said fixed electricity tariffs over 25 years can also help people manage costs in the long run. He said India has 802 districts and many of them could set up solar plants and storage facilities to meet their electricity needs. 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 added that green energy companies are already using AI to manage electricity supply and plan power distribution at 15-minute intervals.
READ | “Keep Learning New Skills, Jobs Will be There”: Andrew Ng On ‘AI Jobapocalypse’ Fear At NDTV World Summit “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. He said India needs to increase electrification and use more electricity, including electricity generated from clean sources, to reduce its dependence on imported fuels. “So I think it solves for the three E’s – economic growth, energy substitution as well as in an environmental friendly fashion,” Mittal said. READ | Nikhil Kamath On What Indian Entrepreneurs Can Learn From ‘Tech Bros’ In West Speaking about green hydrogen, Mittal said the technology to use cleaner fuels in vehicles already exists. Mittal said the Indian Institute of Science has developed technology for engines that run on green methanol. “Ashok Leyland already makes trucks that run on green methanol,” he said. 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 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. “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.
