India’s energy sector lies at the centre of the nation’s aspirations, offering investment opportunities worth 500 billion dollars, Modi said addressing the inaugural ceremony of India Energy Week 2026 in Goa and called upon the global community with the message: Make in India, Innovate in India, Scale with India, Invest in India.
PM addressing India Energy Week, 2026 through Video Conferencing
New Delhi: Aiming to raise USD 100 Billion investment in the oil and gas sector by the end of this decade, Prime Minister Narendra Modi today said India is moving beyond energy security towards mission of energy independence and called upon global investors and companies to come and invest in India’s energy sector.
India’s energy sector lies at the centre of the nation’s aspirations, offering investment opportunities worth 500 billion dollars, Modi said addressing the inaugural ceremony of India Energy Week 2026 in Goa and called upon the global community with the message: Make in India, Innovate in India, Scale with India, Invest in India.
India is developing an energy sector ecosystem capable of meeting local demand and, through affordable refining and the transportation solutions, making exports highly competitive for the world, he said at the new edition of Energy Week attended by representatives from about 125 countries.
“India is among the top five exporters of petroleum products in the world, with export coverage extending to more than 150 countries. He stated that this capacity of India will be of great benefit to all. He further stressed that the Energy Week platform is an excellent place to explore partnerships and extended his best wishes to all participants.
Prime Minister also informed the participants, through video conferencing, that just yesterday, a significant agreement was signed between India and the European Union, which people across the world are calling the “mother of all deals.”
The Prime Minister emphasized that this agreement brings immense opportunities for India’s 140 crore people and millions across European nations. He underlined that it stands as a remarkable example of coordination between two of the world’s largest economies. The agreement represents nearly 25 percent of global GDP and about one-third of global trade. He remarked that beyond trade, the deal strengthens the shared commitment to democracy and the rule of law.
Modi said that the free trade agreement with the EU will complement the agreements with Britain and EFTA, thereby reinforcing both trade and global supply chains. He extended warm congratulations to India’s youth and all citizens for this achievement, and also conveyed his best wishes to those engaged in sectors such as textiles, gems and jewellery, leather, and footwear, noting that the agreement will prove highly beneficial for them.
“This trade deal will not only boost manufacturing in India but also expand the services sector further,” Modi said adding that the free trade agreement will strengthen global business and investor confidence in India.
Emphasizing that India is actively working on global partnerships across every sector, Modi remarked that in the energy sector alone, there are vast investment opportunities across different areas of the energy value chain.
India has significantly opened up its exploration sector and referred to the deep-sea exploration initiative known as the Samudra Manthan Mission. He stated that by the end of this decade, India aims to raise investments in the oil and gas sector to 100 billion dollars, with a target of expanding the scope of exploration to one million square kilometers.
“More than 170 blocks have already been awarded, and the Andaman and Nicobar basin is emerging as the next hydrocarbon hope,” he said and added that India possesses a very large refining capacity and currently ranks second in the world in this regard.
India will become the number one country globally in refining capacity. He noted that India’s present refining capacity stands at around 260 MMT per annum, and continuous efforts are underway to raise it beyond 300 MMT per annum. The Prime Minister underlined that this represents a major advantage for investors.
