Prime Minister Narendra Modi inaugurated India Energy Week (IEW) 2026 virtually from New Delhi, with representatives from nearly 125 countries attending the event in Goa.
Addressing delegates, PM Modi highlighted India’s expanding opportunities across the energy value chain and urged global investors to participate in the nation’s energy transformation.
He emphasised India’s deep-sea exploration initiative, the Samudra Manthan Mission, noting that over 170 exploration blocks have already been awarded.
The Andaman and Nicobar basin is emerging as a key hydrocarbon hub. The Prime Minister also underlined reforms that reduce no-go areas and enhance regulatory frameworks, ensuring higher returns for investors.
India’s refining capacity currently stands at 260 million metric tonnes (MMT) per annum, ranking second globally.
PM Modi announced plans to raise this capacity beyond 300 MMT, aiming for India to become the world’s largest refining nation.
Addressing rising LNG demand, he highlighted investment opportunities across vessels, LNG terminals, regasification projects, and pipelines.
He also noted the rapid expansion of city gas distribution networks, which offer significant potential for investment.
The Prime Minister pointed out that India’s growing population and expanding economy will continue to drive demand for petrochemicals and downstream energy infrastructure.
Reaffirming the government’s commitment to reforms, PM Modi further said India is strengthening domestic hydrocarbons, ensuring transparent investment conditions, and creating a competitive energy ecosystem.
He concluded that the sector presents investment opportunities worth 500 billion dollars, inviting global participation to support India’s energy ambitions and contribute to its sustainable growth.
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