India has ambitious goals in the energy sector, including the addition of 500 gigawatts of renewable energy capacity by 2030 and producing five million metric tons of green hydrogen annually, said Prime Minister Narendra Modi.

 

Delivering his remarks at the India Energy Week 2025 via video message, he acknowledged that these targets may seem ambitious, but the achievements of the past decade have instilled confidence that these goals will be attained. The event runs till February 14 at Dwaraka, New Delhi.

 

Highlighting 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.

 

“India has grown from the tenth largest to the fifth largest economy in the past decade”, remarked Modi. 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. The Prime Minister emphasised India’s achievements in ethanol blending, with a current rate of 19%, leading to foreign exchange savings, substantial farmer revenue, and significant reductions in CO2 emissions.

 

He highlighted India’s goal of achieving a 20% ethanol mandate by October 2025. 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 organizations. He highlighted that this alliance is transforming waste into wealth and setting up Centers of Excellence.

 

Highlighting that India is continuously reforming to fully explore the potential of its hydrocarbon resources, Modi highlighted 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%.

 

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 emphasised 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 Act now offer stakeholders policy stability, extended leases, and improved financial terms. He emphasized that these reforms will facilitate the exploration of oil and gas resources in the maritime sector, increase production, and maintain strategic petroleum reserves.

 

Prime Minister underlined that due to several discoveries and the expanding pipeline infrastructure in India, the supply of natural gas is increasing. This will lead to a rise in the utilisation 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”, exclaimed 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 gigawatts to approximately 70 gigawatts in the past ten years. He emphasized 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. 

 

The Prime Minister reiterated India’s commitment to providing energy solutions that energise growth and enrich nature. - TradeArabia News Service