India to Take the Lead as World’s Largest LPG Residential Market by 2030
India is perceived to surpass China as the largest residential LPG market by 2030, on buoyant growth in the overall market fundamentals at the back of efficient schemes by government to support the lower income class with LPG procurement. As biomass usage in rural household leads to a significant percentage of pollution, rising environmental concerns are the prime cause behind increased inclination of government to avail mass LPG supply. The two major schemes aiding the masses with LPG subsidiaries are the Direct Benefit Transfer of LPG (DBTL) scheme, for allocating the subsidiaries to the deprived population followed by Pradhan Mantri Ujjwala Yojana (PMUY) for providing free LPG stoves for families living under the poverty line. Even though the government is assisting with the initial set-up and expenses related to LPG, the product is still costly in comparison to biomass. For the same reason, despite of the domestic LPG coverage reaching 98 per cent, its complete usage is still low. With government continuously engaged to implement plans for easy and affordable subsidiaries in the rural sector, the total LPG market is expected to reach USD 5.7 billion per annum by 2030. However, due to restricted infrastructure the dilemma over substantial climb for PNG market persists.