Last Updated on January 27, 2026 12:01 pm by INDIAN AWAAZ
India is now moving beyond energy security towards the mission of energy independence: PM
Staff Reporter / New Delhi
Prime Minister Narendra Modi today said that the India-European Union Free Trade Agreement FTA compliments India-UK trade deal and it will boost the manufacturing and service sectors.
Addressing the India Energy Week virtually today, the Prime Minister said, India is a land of opportunities for the energy sector as demand is continuously increasing. He said, the India-EU Free Trade Agreement is a coordination between the world’s two large economies, contributing one-third of global trade and supply chain.
Prime Minister said that it is a platform to explore the country’s energy sector and attract potential investors from across the globe. He said, India Energy Week has rapidly emerged as a global platform for dialogue and action in the energy sector. He said the country is among the top five exporters of petroleum products globally, with more than 150 exporters.
Underlining that several reforms have been undertaken in the exploration sector, including reducing the No-Go areas, Shri Modi added that suggestions received during previous editions of India Energy Week have been incorporated into changes in Acts and Rules. He affirmed that companies investing in the exploration sector are certain to see increased profitability.
Prime Minister Modi highlighted another distinctive strength of India that makes investment in the energy sector highly beneficial. He remarked that India possesses a very large refining capacity and currently ranks second in the world in this regard. Shri Modi emphasized that soon India will become the number one country globally in refining capacity. He noted that India’s present refining capacity stands at around 260 MMT per annum, and continuous efforts are underway to raise it beyond 300 MMT per annum. The Prime Minister underlined that this represents a major advantage for investors.
Highlighting that LNG demand in India is continuously rising, and the country has set a target to meet 15 percent of its total energy demand through LNG, the Prime Minister emphasized the need to work across the entire LNG value chain and noted that India is undertaking large-scale efforts in transportation. Shri Modi remarked that India is working to build the vessels required for LNG transportation domestically, supported by a recently launched ship-building program worth seventy thousand crore rupees. He underlined that numerous investment opportunities have been created in constructing LNG terminals at Indian ports, as well as in regasification projects.
The Prime Minister stressed that India requires a vast pipeline network for LNG transportation, where significant investments have already been made, but large-scale opportunities still remain. He pointed out that city gas distribution networks have already reached many Indian cities and are rapidly expanding to others, making this sector highly attractive for investment.
Shri Modi observed that with India’s large population and steadily growing economy, the demand for petrochemical products will continue to rise, necessitating extensive energy infrastructure. He affirmed that investment in this area will yield substantial growth and added that there are also abundant opportunities in downstream activities for investors.
“Today’s India is riding on the Reforms Express and undertaking rapid reforms across every sector”, stressed Shri Modi. He emphasized that reforms are being carried out to strengthen domestic hydrocarbons while creating a transparent and investor-friendly environment for global collaborations. The Prime Minister underlined that India is now moving beyond energy security towards the mission of energy independence. He stated that India is developing an energy sector ecosystem capable of meeting local demand and, through affordable refining and transportation solutions, making exports highly competitive for the world.
The Prime Minister underlined that India’s energy sector lies at the center of the nation’s aspirations, offering investment opportunities worth 500 billion dollars. He concluded his remarks by calling upon the global community with the message: Make in India, Innovate in India, Scale with India, Invest in India.
Union Minister for Petroleum and Natural Gas, Shri Hardeep Singh Puri, Chief Minister of Goa, Shri Pramod Sawant were present among other dignitaries at the event.