EIA Report – “India was the third-largest energy consumer in the world after China and the United States in 2013, and its need for energy supply continues to climb as a result of the country’s dynamic economic growth and modernization over the past several years. India’s economy has grown at an average annual rate of approximately 11% between 2004 and 2014, and it proved relatively resilient following the 2008 global financial crisis. The latest slowdown in growth of emerging market countries and higher inflation levels, combined with domestic supply and infrastructure constraints, reduced India’s annual inflation-adjusted gross domestic product (GDP) growth from a high of 10.3% in 2010 to 5.1% in 2012, according to the World Bank. India’s GDP growth rebounded to 7.3% in 2014 and 2015. India was the third-largest economy in the world in 2014, as measured on a purchasing power parity basis. Current risks to economic growth in India include continued fiscal deficits, infrastructure deficiencies, delays in structural reforms, and global energy price volatility. Overall, the low energy prices during the past two years have been beneficial for India, a major energy consumer, by reducing overall expenses and government subsidies. On the other hand, persistent lower energy prices could affect the capital investment needed to develop India’s more technically challenging upstream oil and natural gas projects.”