Nomura has projected strong growth for India's power sector, attributing it to accelerating economic activity, greater electrification, and emerging demand from sectors like data centers, electric vehicle (EV) charging, and green hydrogen production. The surge in electricity demand is expected to have a compound annual growth rate of over 7% from FY24 to FY27. India's focus on renewable energy adoption is evident, with renewables estimated to supply 35% of the country's electricity by FY25, primarily driven by solar and wind energy. The nation aims to achieve 500 GW of renewable energy capacity by 2030 as part of its net-zero emissions goal for 2070. Data centers, EVs, and green hydrogen are identified as key drivers of future power demand, with significant investments planned in power transmission infrastructure. India's power landscape is set to evolve, with renewable energy projected to contribute 49% of electricity generation by 2040, supported by advancements in battery storage and decreasing costs of solar installations.