The Indian economy is growing fast and it is expected that by the year 2030, India will become the third largest economy in the world and have the fastest growth rate. The gross domestic product (GDP) of India was US $0.6 trillion in 2005 and is expected to reach US $6.1 trillion by the year 2030 reflecting a compound annual growth rate of 9.0%, which incidentally would be the fastest among all countries. In line with the growth of the economy it is expected that the country will become the world's fourth largest consumer of energy by the year 2020.