New Delhi: Delivering his remarks through a video message at India Energy Week 2025 inauguration ceremony on Tuesday from Paris where he is attending an AI summit, Prime Minister Narendra Modi stated that the next two decades will be crucial for a Viksit Bharat (developed India) and will present ample investment opportunities. He added that India plans to attain several crucial milestones in the energy sector by 2030 and many of India’s energy goals are aligned to the 2030 deadline, including the addition of 500 GW of Renewable Energy (RE) capacity, achieving net zero carbon emissions for Indian Railways, and producing five million metric tons of green hydrogen annually.
Stressing that experts worldwide are asserting that the 21st century belongs to India, Modi remarked, “India is driving not only its growth but also the growth of the world, with the energy sector playing a significant role.” He emphasised that India’s energy ambitions are built on five pillars: harnessing resources, encouraging innovation among brilliant minds, economic strength and political stability, strategic geography making energy trade attractive and easier, and commitment to global sustainability. The Prime Minister noted that these factors are creating new opportunities in India’s energy sector.
Highlighting the achievements made by India in the last decade, Modi said that India has grown from the 10th-largest to the fifth-largest economy. He highlighted that India’s solar energy generation capacity has increased 32 times in the last 10 years, making it the third-largest solar power generating nation in the world. He noted that India’s non-fossil fuel energy capacity has tripled and that India is the first G20 country to achieve the goals of the Paris Agreement.
Referring to India’s Ethanol Blending Programme (EBP), the PM said that it is an example of how India is attaining its goals ahead of time. “Today, India has already achieved 19 percent ethanol blending, leading to foreign exchange savings, substantial farmer revenue, and significant reductions in CO2 emissions. India is on track to attain the goal of achieving 20 percent ethanol blending before October 2025,” said the Prime Minister. He remarked that India’s biofuels industry is ready for rapid growth, with 500 million metric tonnes of sustainable feedstock. He further noted that during India’s G20 presidency, the Global Biofuels Alliance was established and is continuously expanding, now involving 28 nations and 12 international organisations. He highlighted that this alliance is transforming waste into wealth and setting up Centers of Excellence.
India is continuously reforming to fully explore the potential of its hydrocarbon resources, said Modi, adding that major discoveries and extensive expansion of gas infrastructure are contributing to the growth of the gas sector, increasing the share of natural gas in India's energy mix. He noted that India is currently the fourth largest refining hub and is working to increase its capacity by 20 percent.
Pointing out that India’s sedimentary basins hold numerous hydrocarbon resources, some of which have already been identified, while others await exploration, the Prime Minister highlighted that to make India’s upstream sector more attractive, the government introduced the Open Acreage Licensing Policy (OALP). He said that the government has provided comprehensive support to the sector, including opening the Exclusive Economic Zone and establishing a single-window clearance system. Modi noted that changes to the Oilfields Regulation & Development (ORD) Act now offer stakeholders policy stability, extended leases, and improved financial terms. He emphasised that these reforms will facilitate the exploration of oil and gas resources in the maritime sector, increase production, and maintain strategic petroleum reserves.
The Prime Minister underlined that due to several discoveries and the expanding pipeline infrastructure in India, the supply of natural gas is increasing. He said that this will lead to a rise in the utilization of natural gas in the near future. He also highlighted that there are numerous investment opportunities in these sectors.
“India’s major focus is on Make in India and local supply chains,” said Modi. He highlighted the significant potential for manufacturing various types of hardware, including PV modules, in India. The Prime Minister noted that India is supporting local manufacturing, with the solar PV module manufacturing capacity expanding from 2 GW to approximately 70 GW in the past 10 years. He emphasised that the Production Linked Incentive (PLI) scheme has made the sector more attractive, promoting the manufacturing of high-efficiency solar PV modules.
Highlighting the significant opportunities for innovation and manufacturing in the battery and storage capacity sector, the Prime Minister remarked that India is rapidly advancing towards electric mobility and emphasised the need for swift action to meet the demands of such a large country in this sector. Modi noted that the current year’s budget includes numerous announcements supporting green energy. He highlighted that the government has exempted several items related to the manufacturing of EV and mobile phone batteries from basic customs duty. This includes cobalt powder, lithium-ion battery waste, lead, zinc, and other critical minerals. He remarked that the National Critical Minerals Mission will play a crucial role in building a robust supply chain in India. He also highlighted the promotion of the non-lithium battery ecosystem. The Prime Minister emphasized that the current year’s budget has opened the nuclear energy sector, and every investment in energy is creating new jobs for the youth and generating opportunities for green jobs.
“To strengthen India’s energy sector, the government is empowering the public,” emphasised the Prime Minister. He highlighted that ordinary families and farmers have been made energy providers. He remarked that the PM Surya Ghar Muft Bijli Yojana was launched last year, and its scope is not limited to energy production. He noted that this scheme is creating new skills in the solar sector, developing a new service ecosystem, and increasing investment opportunities. Concluding his address, the Prime Minister reiterated India’s commitment to providing energy solutions that energize growth and enrich nature.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)