Last Updated: Feb 07, 2024
Tweeted By AIR
Prime Minister Narendra Modi interacted with top energy sector CEOs at India Energy Week in Goa yesterday. During the interaction, Mr Modi highlighted the wide range of opportunities India offers in the sector and reiterated the government’s commitment to boost reforms which will further give a fillip to growth.
Earlier, inaugurating the second edition of India Energy Week 2024 in Goa, the Prime Minister said that India is set to witness an investment of 67 billion dollars in the energy sector over the next 5 to 6 years. He emphasized India’s robust economic growth surpassing 7.5 percent and projected India to become the world’s third-largest economy shortly. Mr Modi extended an invitation to global investors, urging them to actively participate in India’s energy sector expansion. Prime Minister highlighted plans to significantly enhance India’s refining capacity, aiming to increase it from 254 MMTPA (million metric tonnes per annum) to 450 MMTPA by 2030.
Mr Modi emphasized India’s significant progress in renewable energy and ethanol blending. He highlighted that India’s solar installed capacity has increased by more than 20 times over the past decade. Additionally, he mentioned the remarkable rise in ethanol blending, which has surged from a mere 1.5 percent to over 12 percent.
He said, that amidst the increasing energy demand, India is also ensuring affordable energy in every corner of the country. Mr Modi said India is a country where despite many global factors, the prices of petrol and diesel have come down in the last two years. Apart from this, India has achieved 100% electricity coverage,” PM Modi added.