China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis. Most of India’s coal-fired power plants have critically low levels of coal inventory at a time when the economy is picking up and fueling electricity demand. Coal accounts for around 70% of India’s electricity generation. A potential power crisis would likely have an immediate impact on India’s nascent economic recovery which is being led by industrial activity instead of services, according to Kunal Kundu, India economist at Societe Generale. Government data showed that as of Oct. 6, 80% of ... (full story)