In 2023, the direct transfer on fossil fuels for the residential sector in India stood at approximately $4.95 billion. From 2024 to 2028, the forecasted data shows a gradual decrease in value, starting at $4.89 billion in 2024 and reaching $4.67 billion by 2028. Year-on-year variations show subtle declines: 1.22% for both 2024-2025 and 2025-2026, followed by 1.26% and 1.06% decreases in subsequent years. The five-year CAGR indicates a modest decline trend.
Future trends to watch include shifts in government energy policies, increasing adoption of renewable energy sources, and potential market responses to global environmental commitments, which may further impact direct transfers for fossil fuels in the residential sector.
