
May 19, 2026·substack.com
India's Electricity Supercycle
India is entering a structural, multi-year boom in electricity infrastructure.
Per capita consumption sits at just 1,300 units per year — far below the global average of 3,400, China’s 5,900, and South Korea’s 10,000+. This enormous gap, combined with surging demand from AI data centers, EVs, manufacturing revival, and renewable integration, has triggered a massive investment wave.