Prime Minister Narendra Modi on Tuesday invited global investors to tap into India’s rapidly expanding energy sector, highlighting investment opportunities
worth nearly $500 billion and underlining the country’s ambition to emerge as the world’s largest oil refining hub. Addressing the India Energy Week 2026 virtually, the Prime Minister urged investments across the energy value chain, including refining, the LNG ecosystem, city gas distribution, and oil and gas exploration. He said India is targeting $100 billion in investments in the oil and gas sector by 2030, alongside a major expansion in refining capacity from the current 260 million tonnes per annum (MTPA) to over 300 MTPA. “Our energy sector lies at the core of India’s growth aspirations. It presents investment opportunities of nearly $500 billion. My message to investors is clear: Make in India, innovate in India, scale with India and invest in India,” Modi said, noting that India is already among the world’s top five energy exporters. The Prime Minister highlighted sweeping reforms in the exploration sector, including the opening up of vast areas for bidding, deep-sea exploration initiatives such as the ‘Samudra Manthan’ project, and a sharp reduction in no-go zones. He said more than 170 exploration blocks have already been awarded, with the Andaman and Nicobar basin emerging as a promising new hydrocarbon region. Modi stressed that India’s refining strength offers a significant advantage to investors. Currently the second-largest refining nation globally, India is on track to claim the top spot as capacity continues to expand. He also pointed to rising LNG demand, with India aiming to meet 15% of its energy needs through LNG, creating opportunities across transportation, terminals, ports, regasification facilities and pipelines. Highlighting domestic manufacturing, he said India is scaling up shipbuilding for LNG transportation, supported by a recently launched Rs 70,000-crore programme. The expanding city gas distribution network, growing petrochemical demand, and downstream energy activities also present strong investment prospects, he added. Emphasising the government’s reform push, Modi said India is creating a transparent, investor-friendly ecosystem for global collaboration in hydrocarbons and energy infrastructure. Moving beyond energy security, the country is now focused on achieving energy independence while building competitive export capabilities. India Energy Week 2026 brings together global policymakers, industry leaders and innovators, serving as a key platform to advance energy security, sustainability and inclusive growth.
