India to see investment of $67 billion in next five to six years in energy sector: PM Modi

Prime Minister Narendra Modi said that India will see an investment of $67 billion in the energy sector in next 5 to 6 years

Prime Minister Narendra Modi on Tuesday said India was working on the development of environmentally friendly energy sources to enhance its energy max. He was delivering the inaugural address at the second edition of India Energy Week (IEW) in the presence of Indian and global audience. 

The IEW 2024 is being held from February 6 to 9 in Goa, and is India’s largest and only all-encompassing energy exhibition and conference, bringing together the entire energy value chain, and is expected to serve as a catalyst for India’s energy transition. 

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Mr. Modi said as India was poised to be 3rd largest economy in the world, the energy sector would play a crucial role in India’s growth story.

He said the India’s energy demand would double by 2045; keeping that in mind the country had started working on developing affordable and sustainable energy. 

Highlighting the need for affordable fuel, Mr. Modi said that despite adverse global factors, India was among the few nations where petrol prices had come down and 100% coverage was achieved by electrifying crores of houses. 

“India is not just meeting its needs but is also determining the global direction,” Mr. Modi said.