During the second edition of the India Energy Week, Prime Minister Narendra Modi announced that India is poised to attract a significant investment of $67 billion in its energy sector over the next 5 to 6 years. Emphasizing India’s robust economic growth, PM Modi invited global investors to participate in the country’s energy sector expansion.
He highlighted India’s ambition to increase refining capacity from 254 MMTPA to 450 MMTPA by 2030, signaling substantial opportunities for investment. The Prime Minister underscored India’s unprecedented investment in the energy sector, aiming to double primary energy demand by 2045. India’s strategic focus on energy management and reforms has resulted in reduced petrol and diesel prices over the past two years, aligning with global challenges.
PM Modi outlined the government’s commitment to boosting domestic natural gas production and targeting a 15% share of gas in the energy mix by 2030. Moreover, he emphasized the significant progress in ethanol blending in petrol, with plans to increase blending to 20% by 2025.
Highlighting India’s role in environmental stewardship, PM Modi reiterated the country’s commitment to achieving net-zero emissions by 2070 and leveraging surplus electricity from solar rooftop installations for grid connectivity.