IEA: India Became Third Largest Nation for Energy Investment in 2016

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India became the third largest country for energy investment in 2016 only behind China and the United States of America. an International Energy Agency`s report pointed out.
`Energy investment in India jumped 7% in 2016. cementing its position as the third-largest country behind the United States.` the World Energy Investment report 2017 stated.
`Investment in India`s electricity sector reached a record of nearly $55bn in 2016.` the report added.
The investment has increased owing to government pushing to modernise and expand India`s power system and enhance access to electricity supply.
On the other hand. China remained the largest destination of energy investment. taking 21% of the global total
However. the makeup of investments in China has been changing.
`Today. energy investment in China is increasingly driven by low-carbon electricity supply and networks. and energy efficiency.` the World Energy Investment report 2017 said.
Overall. total energy investment worldwide was around USD 1.7 trillion in 2016. 12% lower than 2015 in real terms and accounting for 2.2% of global gross domestic product (GDP).