India's energy sector offers investment opportunities worth 500 billion dollars: PM

Prime Minister Narendra Modi on Tuesday invited global investors to participate in India's growing energy sector, which offers a USD 500 billion investment opportunity, and stressed that the country will soon become the world's largest refining hub. Addressing the India Energy Week 2026, he urged investors to invest in sectors like refining, LNG value chain infrastructure, city gas distribution, and oil & gas exploration. Modi highlighted that India has significantly opened up its exploration sector and referred to the deep-sea exploration initiative known as the Samudra Manthan Mission. He stated that by the end of this decade, India aims to raise investments in the oil and gas sector to 100 billion dollars, with a target of expanding the scope of exploration to one million square kilometers. The Prime Minister noted that more than 170 blocks have already been awarded, and the Andaman and Nicobar basin is emerging as the next hydrocarbon hope. He further remarked that India possesses a very large refining capacity and currently ranks second in the world in this regard. The Prime Minister said the nation is targeting USD 100 billion investments in the oil and gas sector by 2030, and the oil refining capacity will be expanded from 260 million tonnes per annum to 300 MTPA. The Prime Minister underlined that Indias energy sector lies at the center of the nations aspirations, offering investment opportunities worth 500 billion dollars.

 

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