Prime Minister Narendra Modi addressed the inaugural ceremony of India Energy Week 2026 via video conferencing on 27 January 2026, underscoring India’s emergence as a global hub of opportunity for the energy sector and reaffirming the country’s commitment to sustainable growth, energy independence and international collaboration.
Welcoming participants from nearly 125 countries who have gathered in Goa, the Prime Minister noted that India Energy Week has, in a short span, evolved into a significant global platform for dialogue and action on energy security and sustainability. He said India’s status as the world’s fastest-growing major economy has led to steadily rising energy demand, while also creating strong capacity to meet global requirements.
Highlighting India’s expanding role in global energy markets, the Prime Minister said the country is among the world’s top five exporters of petroleum products, supplying to more than 150 countries. He described India Energy Week as an ideal platform for forging partnerships across the energy value chain and extended his best wishes to all participants.
Referring to a major development announced a day earlier, the Prime Minister drew attention to the conclusion of the India–European Union Free Trade Agreement, describing it as a landmark example of coordination between two of the world’s largest economies. He said the agreement represents nearly 25 percent of global GDP and about one-third of global trade, and will bring wide-ranging benefits to India’s 140 crore citizens as well as millions in Europe. Beyond trade, he noted, the agreement strengthens shared commitments to democracy and the rule of law.
The Prime Minister said the India–EU FTA, together with agreements with Britain and EFTA, will reinforce global supply chains and boost investor confidence. He extended congratulations to India’s youth and to those engaged in sectors such as textiles, gems and jewellery, leather and footwear, noting that the agreement will significantly benefit manufacturing and further expand the services sector.
Emphasising India’s openness to global partnerships, the Prime Minister highlighted vast investment opportunities across the energy sector. He said India has substantially opened its exploration sector and referred to the Samudra Manthan deep-sea exploration mission. By the end of the decade, he said, India aims to attract investments of 100 billion dollars in oil and gas exploration and expand the exploration area to one million square kilometres. More than 170 blocks have already been awarded, with the Andaman and Nicobar basin emerging as a new hydrocarbon frontier.
He noted that reforms, including the reduction of No-Go areas and changes to Acts and Rules based on stakeholder feedback from earlier editions of India Energy Week, have enhanced profitability prospects for investors in exploration.
The Prime Minister also highlighted India’s strength in refining, noting that the country currently ranks second globally and is poised to become number one in the near future. India’s refining capacity stands at around 260 million metric tonnes per annum and is being expanded beyond 300 million metric tonnes, creating significant advantages for investors.
Addressing the growing role of liquefied natural gas, the Prime Minister said India aims to meet 15 percent of its energy demand through LNG. He highlighted opportunities across the LNG value chain, including domestic shipbuilding supported by a recently launched programme worth ₹70,000 crore, construction of LNG terminals at ports, regasification projects, pipeline networks and the rapid expansion of city gas distribution systems.
He further noted that rising demand for petrochemical products, driven by India’s large population and growing economy, will require extensive energy infrastructure and offer strong growth prospects in downstream sectors.
Stressing that India is undertaking rapid reforms across sectors, the Prime Minister said the country is moving beyond energy security towards the mission of energy independence. He added that India is building an integrated energy ecosystem capable of meeting domestic demand while remaining globally competitive in exports.
Concluding his address, the Prime Minister said India’s energy sector lies at the heart of national aspirations and offers investment opportunities worth 500 billion dollars. He invited the global community with a clear message: Make in India, Innovate in India, Scale with India, Invest in India.
Union Minister for Petroleum and Natural Gas Hardeep Singh Puri and Chief Minister of Goa Pramod Sawant were present among other dignitaries at the event.
