Panaji: Prime Minister Narendra Modi addressed the India Energy Week 2024 in Goa, emphasizing India’s need to double its energy demand by 2045. Modi revealed plans for a $67 billion investment (₹5.5 lakh crore) in the energy sector over the next 5 to 6 years. This substantial allocation forms a significant part of the ₹11 lakh crore earmarked for infrastructure in the upcoming budget.
PM Modi underscored the importance of preparing for the surge in energy demand, aiming to make energy affordable and environmentally friendly. India aims to increase refining capacity from 254 MMTPA to 450 MMTPA by 2030. Additionally, the country is committed to raising the share of clean power to 50% in its electricity mix by the end of the decade, with a net zero economy target by 2070.
Union Petroleum and Natural Gas Minister Hardeep Singh Puri praised India’s unifying role in the global energy market. The India Energy Week 2024, held from February 6-9, seeks to encourage global investors to participate in India’s energy sector growth.
