PM Modi Highlights Vast Energy Opportunities at India Energy Week 2026, Calls for Global Investment

New Delhi, January 27: Prime Minister Narendra Modi on Monday addressed the inaugural ceremony of India Energy Week 2026 via video conferencing and described India as a land of immense opportunities for the global energy sector, urging investors to “Make in India, Innovate in India, Scale with India and Invest in India.”

Speaking at the event, which is being held in Goa, the Prime Minister noted that representatives from nearly 125 countries have gathered to discuss an energy-secure and sustainable future. He welcomed the participants and said that India Energy Week has emerged as a major global platform for dialogue and action in a very short span of time.

Shri Modi said that India is the world’s fastest growing economy and therefore the demand for energy products is continuously rising. He added that India also offers excellent opportunities to meet global energy demand. Highlighting India’s growing role in global energy markets, the Prime Minister said that India is among the top five exporters of petroleum products in the world, supplying to over 150 countries, and this capacity will be beneficial for global partners.

Referring to a major recent development, Shri Modi said that a landmark agreement was signed between India and the European Union just a day earlier, which is being described globally as the “mother of all deals.” He said the India–EU Free Trade Agreement represents nearly 25 percent of global GDP and about one-third of global trade, and reflects strong coordination between two of the world’s largest economies. He added that the agreement will create immense opportunities for India’s 140 crore people and millions across Europe, strengthen democracy and rule of law, and boost confidence among global investors.

The Prime Minister said the EU trade deal would complement agreements with Britain and EFTA, strengthening global supply chains. He congratulated India’s youth and citizens and said sectors like textiles, gems and jewellery, leather and footwear would particularly benefit. He also noted that the agreement would boost manufacturing, expand services and enhance India’s global business profile.

Highlighting energy sector reforms, Shri Modi said India has significantly opened up its exploration sector and launched deep-sea exploration under the Samudra Manthan Mission. He said India aims to attract investments worth 100 billion dollars in oil and gas by the end of the decade and expand exploration to one million square kilometres. He added that more than 170 blocks have already been awarded and the Andaman and Nicobar basin is emerging as a major hydrocarbon zone.

The Prime Minister said several reforms, including reduction of No-Go areas, have been implemented based on feedback from previous Energy Week editions. He assured investors that profitability in the exploration sector will continue to improve.

Shri Modi also highlighted India’s strong refining capabilities, stating that the country currently ranks second globally and is soon set to become number one in refining capacity. He said India’s refining capacity stands at around 260 MMT per annum and efforts are underway to expand it beyond 300 MMT per annum, creating major advantages for investors.

On LNG, the Prime Minister said India’s demand is rising steadily and the country aims to meet 15 percent of its energy needs through LNG. He said India is working across the entire LNG value chain, including domestic shipbuilding through a ₹70,000 crore shipbuilding programme, construction of LNG terminals, regasification projects and pipeline networks. He added that city gas distribution networks are expanding rapidly, offering strong investment prospects.

Shri Modi further noted that rising demand for petrochemical products will require massive energy infrastructure and create abundant opportunities in downstream activities.

Stressing that India is moving beyond energy security towards energy independence, the Prime Minister said India is building a transparent, investor-friendly and reform-driven ecosystem that can meet domestic demand while remaining globally competitive in exports.

Concluding his address, Shri Modi said India’s energy sector is at the heart of national aspirations and offers investment opportunities worth nearly 500 billion dollars. He called upon the global community to partner with India in its energy journey.

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