The country's power sector is at an "inflection point" and most of its electricity demand in the next two decades will be met by burning fossil fuels despite huge investments in renewables, WEF said on Tuesday.

Ahead of the India-UK Economic and Financial Dialogue, Finance Minister Arun Jaitley on Monday wooed British businesses keen on investing in India, highlighting initiatives taken by the government to make the country an attractive destination for global investment.

The projection by the World Economic Forum (WEF) assumes a total loss of 7.1 million jobs, offset by a gain of 2 million new positions.