PM Modi highlights $500 billion investment opportunities at India Energy Week 2026

Prime Minister Narendra Modi on Tuesday addressed the inaugural ceremony of India Energy Week 2026 via video conferencing, emphasizing India’s immense potential in the energy sector and inviting global investors to participate in the country’s energy growth story.

Modi highlighted that representatives from nearly 125 countries have gathered in Goa for the event to discuss a secure and sustainable energy future. He called India a land of “immense opportunities” for the energy sector, underlining that the country’s fast-growing economy is driving rising demand for energy products and offering opportunities to meet global energy needs.

“India is now moving beyond energy security towards the mission of energy independence,” Modi said, stressing that the nation’s energy sector lies at the heart of its aspirations. He added that the sector offers investment opportunities worth USD 500 billion, spanning refining, LNG value chain infrastructure, city gas distribution, oil and gas exploration, and downstream activities.

The Prime Minister also highlighted India’s expanding refining capacity, which currently stands at 260 MMT per annum, and noted plans to raise it to over 300 MMT, positioning the country to become the world’s largest refining hub. He underscored the rising demand for LNG and the country’s push to meet 15 percent of its total energy requirements through LNG, supported by investments in transportation, terminals, and regasification projects.

Modi also pointed to India’s recent Free Trade Agreement with the European Union as a major milestone in global economic coordination, complementing existing agreements with Britain and EFTA and reinforcing trade and supply chains. He emphasized that the deal will benefit sectors such as textiles, gems and jewellery, leather, and footwear, while boosting manufacturing and services.

On energy exploration, Modi highlighted initiatives like the Samudra Manthan Mission and the allocation of over 170 hydrocarbon blocks, with the Andaman and Nicobar basin emerging as a promising region. Reforms in the sector, including the reduction of No-Go areas and regulatory improvements, are expected to enhance investor profitability.

Modi concluded by urging global investors to “Make in India, Innovate in India, Scale with India, Invest in India,” emphasizing that India’s energy sector offers unprecedented opportunities for growth, sustainability, and collaboration.

Union Minister for Petroleum and Natural Gas Shri Hardeep Singh Puri and Goa Chief Minister Shri Pramod Sawant were among the dignitaries present at the event.