The Indian economy is growing at 8-10% annually. This has led to substantial increases in its energy use and carbon emissions. India has had a 10% perennial electricity shortage. Increased efficiency of energy use will help to eliminate the electricity shortage and result in expansion of its economic activity by several hundred billion $. The Energy Conservation Act of 2001, and the National Mission for Enhanced Energy Efficiency in 2008 provide the framework for initiatives to overcome the challenges that limit energy efficiency investments in India. However, there continue to be energy efficiency opportunities that remain unexploited because challenges such as higher first costs, coupled with inadequate information on energy performance of appliances and equipment; financial, technical and transactions risks associated with the adoption of new energy efficient technologies; and split incentives, especially in the buildings sector. The unlocking of this potential is essential to meet national goals of access to energy for all, reduced vulnerability to shocks in energy imports; and better urban air quality. Additionally, as a co-benefit, these actions also further mitigate greenhouse gas emissions. This talk will cover the challenges and opportunities confronting India as it pursues policies to unlock the full potential of energy efficiency in the country.