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Prime Minister Narendra Modi participated in the India Energy Week in Goa on Tuesday, where he interacted with top CEOs from the energy sector.
During the interaction, PM Modi underscored the diverse array of opportunities available in India's energy sector and reaffirmed the government's dedication to implementing reforms aimed at fostering growth. In a post on X, he said, "At the India Energy Week, interacted with top energy sector CEOs. Highlighted the wide range of opportunities India offers in the sector and reiterated our commitment to boosting reforms which will further growth." He outlined his government's vision for reducing dependence on fossil-based fuels and highlighted the achievements the country made under his administration in the energy domain. Inaugurating the second edition of India Energy Week 2024, PM Modi asserted that India's solar installed capacity has risen by over 20 times over the decade. Blending of ethanol has risen from a mere 1.5 per cent to above 12 per cent. India has already rolled out 20 per cent blended fuel, though, in a phased manner, in April 2023 and widespread availability is expected in days to come. By 2025, a full 20 per cent rollout is expected. Talking about India's energy demand, PM Modi asserted that it will double to about 38 million barrels by 2045. Speaking about diversification of energy sources, the percentage of natural gas in the overall energy mix is being raised from 6 to 15 per cent. In the next 5 to 6 years, PM Modi said about USD 67 billion investment will be made. India, the world's third-biggest oil importer and consumer, is dependent on crude oil from various sources in the global market to meet its domestic demand. The India Energy Week 2024 was inaugurated by Prime Minister Narendra Modi at ONGC, Goa, India. (ANI)
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