Prime Minister Narendra Modi is currently on a tour of Goa, where he inaugurated the ONGC’s Survival Center during the India Energy Week. Addressing the event, PM Modi emphasized the significant economic progress India has witnessed, with GDP growth exceeding 7.5% in the first six months of this fiscal year. India is now recognized as the world’s fastest-growing economy, and recent projections from the IMF suggest sustained rapid advancement.
During the India Energy Week, PM Modi stated that experts believe India is poised to become the world’s third-largest economy soon. He highlighted the country’s rapid economic development and projected that India’s primary energy demand will double by 2045. The Prime Minister also discussed India’s energy management strategy, noting a decrease in petrol and diesel prices over the past two years. Additionally, he announced a $67 billion investment in the energy sector over the next five to six years.
PM Modi underscored the government’s efforts to enhance domestic natural gas production and outlined goals such as increasing gas’s share in the energy mix by 15% by 2030. He mentioned that India currently contributes only 4% to global emissions and aims for net-zero emissions by 2070. The recent initiative to install solar rooftop panels on one crore houses will integrate surplus electricity into the grid.
Moreover, PM Modi inaugurated the ONGC Survival Center in South Goa’s Betul village, marking the beginning of India Energy Week. This week-long event includes the largest and only comprehensive energy exhibition and conference in India, featuring participation from energy ministers of about 17 countries.
The Prime Minister focused on achieving self-reliance in meeting energy needs and announced that Goa will host the India Energy Week 2024 from February 6th to 9th. The event will include over 900 exhibitors, with pavilions from Canada, Germany, the Netherlands, Russia, the United Kingdom, and the United States.
