An annual $140-billion oil & gas import bill, power demand projecting to grow 6.4% annually, and back-to-back global disruptions – from Russian oil to the Iran war – exposing vulnerabilities, electrification is emerging as a central pillar of India’s energy strategy. A Bernstein report said India’s energy security “has been tested twice in quick succession, first by disruptions around Russian oil, and now by the Iran war,” underlining the urgency for structural change as geopolitical risks intensify.