Energy takes center stage in infrastructure investment

India is undergoing a significant surge in energy sector investments, particularly in the expansion of refineries and the natural gas network. Approximately US$ 67 billion investment would be allocated for the natural gas sector over the next six years.

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India is witnessing a substantial increase in energy sector investments, especially in expanding refineries and the natural gas network. An estimated US$ 67 billion will be allocated for investment in the natural gas sector over the next six years.

At the inauguration of the India Energy Week, PM Modi said that the energy sector will be a key driver of India’s economic growth. “In this fiscal year, we are investing approximately INR 10 lakh crore in infrastructure, with the recent Indian budget allocating over INR 11 lakh crore for this purpose,” further he added that a significant portion of this investment will undoubtedly be directed towards the energy sector.”

India is enhancing its energy supply capabilities to accommodate the rising demands of the country, spurred by the expansion of railways, roadways, waterways, and airways. Modi highlighted that the domestic refining capacity is set to increase to 450 million tonnes per annum (mtpa) by 2030, a significant rise from the current 254 mtpa. Additionally, Modi engaged with CEOs of various global oil and gas companies, urging them to consider investing in India.

While highlighting the opportunities in India’s energy sector, he expressed confidence in India emerging as a hub for hydrogen production and export. He asserted that Bharat’s green energy sector has the potential to ensure success for both investors and industries. He also said that the policy emphasis on the solar sector, highlighting the significant investment opportunity available across the solar value chain.

The push towards adopting solar energy is transforming into a nationwide movement in Bharat, he noted, citing the recent initiative to install solar rooftops in 10 million homes, empowering one crore families.

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