India is driving world’s growth, energy sector plays an important role: PM Modi

India has huge hydrocarbon potential in its sedimentary basins, said PM Modi.

India in its growth journey is also contributing to the world’s economy, with the energy sector playing an important role, Prime Minister Narendra Modi said on February 11, reiterating the country’s commitment to global sustainability.

Virtually inaugurating the India Energy Week 2025, Modi, who is in France for an AI summit, said India’s energy ambitions rest on five pillars — harnessing resources, encouraging innovation among brilliant minds, economic strength and political stability, strategic geography making energy trade attractive, and commitment to global sustainability.

The third edition of the India Energy Week, organised by the Ministry of Petroleum and Natural Gas (MoPNG), will continue till February 11.

India has huge hydrocarbon potential in its sedimentary basins and to increase exploration, the country has opened up “no-go areas”, the PM said.

The so-called no-go areas are the sedimentary blocks or areas which were earlier restricted for exploration due to several reasons including environmental clearances.

Modi said major discoveries and extensive expansion of gas infrastructure are contributing to the growth of the sector, increasing the share of natural gas in the country's energy mix.

India is the fourth largest refining hub and is working to increase its capacity by 20 percent, he said.

The coming five years are pivotal for India’s energy landscape, Modi said. By 2030, India aims to achieve 500 gigawatts of renewable energy capacity and green hydrogen production capacity of 5 million tonne per annum.

India has achieved 19 percent ethanol blending in petrol and would meet the 20 percent blending target before Ethanol Supply Year (ESY) 2025 — the deadline decided by the government. The ethanol blending programme has led to foreign exchange savings, substantial farmer revenue and significant reductions in CO2 emissions, the PM said.

India's solar energy generation capacity has increased thirty-two times over the past 10 years, making it the third-largest solar power generating nation in the world.

India is also supporting local manufacturing, with the solar PV module manufacturing capacity expanding from 2 gigawatts to approximately 70 gigawatts in the past ten years.

The production linked incentive (PLI) scheme has made the sector more attractive, promoting the manufacturing of high-efficiency solar PV modules, added Modi.