ExxonMobil and US coal firms highlight vast opportunities in India’s power sector

Washington, June 30 – At the ninth US‑India Strategic Partnership Forum summit, ExxonMobil’s Dr. Prasanna Joshi and Exxol Energy CEO Arny Thrashar outlined why India is fast becoming a magnet for U.S. energy capital.

Joshi explained that India’s GDP could soar to $25‑$30 trillion, a seven‑ to eight‑fold rise, while the nation’s power demand is set to grow three times faster than the global average of 12‑15 percent. To meet that need, installed capacity must expand from roughly 500 GW today to about 2,100 GW by 2047.

Renewables are central to the plan: solar and wind are expected to swell from roughly 100 GW to near 1,800 GW. Yet traditional fuels remain indispensable, with only ten percent of India’s energy reserves currently identified. More exploration could dramatically improve energy security.

Natural gas, presently a 6 percent share of the mix, is targeted to reach 12‑15 percent by 2047 through new pipelines, LNG terminals and long‑term contracts.

Thrashar added that India now accounts for roughly 23 percent of all U.S. coal exports – a jump from one million tonnes in 2005 to 21.5 million tonnes last year – making the country the largest foreign market for American coal.

He cautioned that a single source cannot satisfy India’s escalating power needs. Opportunities exist in underground mining, coal gasification, battery storage and other emerging technologies, all of which require sustained U.S. involvement.

Both speakers concluded that the Indian market offers the most extensive long‑term investment horizon for U.S. energy firms, but success will demand coordinated action across governments, corporations and technology providers.