Indentation is a very important concept of Python because without proper indenting the Python code, you will end up and the code will not get compiled.

Indentation in Python refers to the white space at the beginning of a line of code. Unlike other programming languages, Python uses indentation to determine the structure of the code, such as loops, functions, and conditional statements. Indentation is used to group statements together that are part of a block of code.

The Python programming language does not use curly braces to define blocks of code like other languages. Instead, it uses indentation to signify the start and end of a code block. This can help make code more readable and easier to understand since the indentation visually represents the hierarchy of the code.

Python requires consistent indentation, and mixing tabs and spaces is not allowed. The standard convention for indentation is to use four spaces for each level of indentation. If the indentation is incorrect, Python will raise an IndentationError.

For example, consider the following Python code snippet: 

def print_numbers():
    for i in range(10):
        if i % 2 == 0:
            print(i)

In this code, the for loop and if statement are indented to indicate that they are part of the print_numbers function. The print statement is indented within the if statement to indicate that it is executed only when the condition is met.

In summary, indentation is a crucial aspect of Python programming, and it is essential to understand how it works to write readable and maintainable code.