Prime Minister Narendra Modi unveiled India's ambitious vision to attract massive global investments in the energy sector during his keynote address at India Energy Week 2026 in New Delhi on Tuesday. The Prime Minister set a concrete target of securing $100 billion in investments specifically for the oil and gas sector by the end of this decade, positioning India as a premier destination for international energy capital.
India's Energy Investment Roadmap
"We are working diligently to elevate our investment in the Oil and Gas Sector to reach $100 billion by 2030," declared Prime Minister Modi, emphasizing the government's commitment to transforming India's energy landscape. He highlighted how India's rapidly growing energy demand creates unprecedented opportunities for global investors seeking stable returns in a dynamic market.
Transforming into Global Refining Hub
Elaborating on the petroleum sector's expansion plans, the Prime Minister projected that India is poised to become the world's largest oil refining center in the near future. "India represents a land of immense opportunities for the energy industry as consumption continues its upward trajectory," he stated, adding that the country's broader energy ecosystem presents investment possibilities worth approximately $500 billion.
The government has outlined specific capacity enhancement targets, planning to increase India's oil refining capacity from the current 260 million tonnes per annum to 300 MTPA in the coming years. This expansion aligns with the nation's growing domestic consumption and strategic positioning in global energy markets.
Economic Reforms and Business Environment
Prime Minister Modi connected the energy investment push with India's comprehensive economic transformation, describing the country as "riding the reforms express." He detailed ongoing policy reforms across multiple sectors designed to streamline business operations and create a more investor-friendly ecosystem. These structural changes aim to reduce bureaucratic hurdles while enhancing transparency and predictability for international companies.
International Trade Synergies
The Prime Minister strategically linked energy sector growth with India's expanding international trade partnerships, noting how the recently concluded India-European Union Free Trade Agreement complements existing arrangements like the India-UK trade deal. He characterized the India-EU pact as the "mother of all deals" that has unlocked substantial opportunities for both economies.
"This agreement represents an excellent example of coordination between two major economic blocs," Modi explained, highlighting that the partnership covers approximately 25 percent of global GDP and one-third of worldwide trade. He emphasized how these trade agreements will synergistically support manufacturing growth, service sector expansion, and energy infrastructure development.
India Energy Week as Global Platform
India Energy Week 2026 is being developed as a significant international forum that brings together policymakers, industry leaders, technology innovators, and financial experts to discuss critical issues including energy security, sustainable development, and inclusive economic growth. The event underscores India's emerging leadership role in global energy dialogues and its commitment to balancing growth with environmental considerations.
The Prime Minister's announcements reflect India's strategic approach to energy sector development, combining domestic capacity building with international partnerships and investment attraction. As global energy transitions accelerate, India is positioning itself as both a substantial consumer market and a manufacturing hub for energy technologies and infrastructure.
