India Energy Week 2026: PM Modi Highlights $500 Billion Energy Investment Opportunity, Pushes for Energy Independence

Prime Minister Narendra Modi on Tuesday addressed the inaugural ceremony of India Energy Week 2026 via video conferencing, describing India as a land of immense opportunities for the global energy sector and unveiling $500 billion worth of investment potential across the energy value chain.

Welcoming delegates from nearly 125 countries gathered in Goa, the Prime Minister said India Energy Week has rapidly emerged as a key global platform for dialogue and action towards an energy-secure and sustainable future.

Highlighting India’s status as the world’s fastest-growing major economy, Modi noted rising domestic energy demand alongside India’s growing role as a global supplier. He pointed out that India ranks among the top five exporters of petroleum products, supplying over 150 countries.

The Prime Minister also drew attention to the recently signed India–European Union Free Trade Agreement, calling it the “mother of all deals.” He said the pact represents nearly 25% of global GDP and one-third of world trade, strengthening supply chains while boosting investor confidence in India. The agreement, he added, will particularly benefit sectors such as textiles, gems and jewellery, leather and footwear.

Outlining India’s upstream ambitions, Modi said investments in oil and gas are targeted to reach $100 billion by the end of the decade, with exploration expanding to one million square kilometres under initiatives like Samudra Manthan Mission. Over 170 exploration blocks have already been awarded, with the Andaman & Nicobar basin emerging as a new hydrocarbon frontier.

He further highlighted India’s rapidly expanding refining capacity — currently around 260 MMT per annum, set to cross 300 MMT, positioning India to soon become the world’s largest refining hub.

On LNG, the Prime Minister said India aims to meet 15% of its total energy demand through LNG, supported by major investments in terminals, pipelines, regasification projects and domestic shipbuilding under a ₹70,000 crore programme. City gas distribution networks are also expanding rapidly, opening fresh opportunities for investors.

Emphasising reforms across the hydrocarbons ecosystem, Modi said India is moving beyond energy security towards energy independence, creating a transparent and investor-friendly environment for global partnerships.

“Our energy sector is at the heart of India’s aspirations,” he said, concluding with a call to the global community: “Make in India, Innovate in India, Scale with India, Invest in India.”

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

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