Prime Minister Narendra Modi delivered a compelling address at the inaugural ceremony of India Energy Week 2026 via video conferencing on Tuesday, revealing that India's energy sector presents a staggering $500 billion in investment opportunities. Speaking to representatives from nearly 125 countries gathered in Betul, Goa, the Prime Minister positioned India as a land of immense potential for global energy investors.
India's Energy Vision: From Security to Independence
Modi emphasized that India's energy sector lies "at the heart of our aspirations" and urged international investors to embrace his four-pillar approach: "Make in India, Innovate in India, Scale with India, Invest in India." He outlined how India is transitioning beyond mere energy security toward a more ambitious mission of energy independence, developing a comprehensive ecosystem capable of meeting domestic demand while creating globally competitive exports through affordable refining and transportation solutions.
World-Class Refining Capacity and Infrastructure
The Prime Minister highlighted India's world-class refining capacity, currently ranking second globally at 260 million metric tonnes per annum. "Continuous efforts are under way to raise it beyond 300MMT per annum," Modi stated, confidently predicting this expansion would soon make India the world's number one refining nation. He termed this growing capacity a major advantage for investors seeking stable, long-term opportunities in the energy sector.
Historic EU Trade Agreement Creates New Opportunities
In a significant development, Modi revealed that India and the European Union signed a free trade agreement just one day before the event, which he called the "mother of all deals." This landmark agreement represents 25% of global GDP and one-third of global trade, bringing immense opportunities for India's 1.4 billion people and millions across European nations. The timing of this agreement creates synergistic possibilities for energy sector investments between the two economic powerhouses.
Deep-Sea Exploration and LNG Development
Modi detailed several specific investment avenues, including the ambitious deep-sea exploration initiative known as the Samudra Manthan Mission. India has set an ambitious target of attracting $100 billion in oil and gas sector investments by the end of the decade, with more than 170 blocks already awarded. The Andaman and Nicobar basin has emerged as the next hydrocarbon hope, presenting fresh exploration opportunities.
On the liquefied natural gas (LNG) front, Modi announced India's target to meet 15% of its total energy demand through LNG. The country is building vessels for LNG transportation domestically, supported by a substantial Rs 70,000 crore shipbuilding programme. The Prime Minister stressed that numerous investment opportunities exist in constructing LNG terminals at Indian ports and developing regasification projects across the nation.
Export Strength and Growing Domestic Demand
Modi noted that India is among the top five exporters of petroleum products globally, with exports reaching over 150 countries. He emphasized that the country's large population and rapidly growing economy would drive continuous demand for petrochemical products, creating a sustainable market for energy investments. "Today's India," Modi added, "is riding on the reforms express, undertaking rapid reforms across every sector" to strengthen domestic hydrocarbons while creating a transparent and investor-friendly environment for global collaborations.
The Prime Minister's comprehensive presentation at India Energy Week 2026 showcased India's commitment to becoming a global energy hub, with specific investment targets, infrastructure development plans, and policy reforms designed to attract international capital and expertise to the sector.
