Prime Minister Narendra Modi inaugurated the second edition of India Energy Week 2024 in the vibrant state of Goa. This prestigious event, which brings together key stakeholders from across the energy spectrum, aims to catalyse India’s transition towards sustainable energy sources and practices. The Prime Minister’s address highlighted India’s remarkable economic growth and its pivotal role in shaping the global energy landscape.
In his opening remarks, Prime Minister Modi underscored the significance of holding the event in Goa, renowned for its hospitality and natural beauty. He emphasised the state’s burgeoning development and its suitability as a venue for discussions on sustainability and environmental stewardship. The Prime Minister expressed confidence that participants would carry fond memories of Goa’s charm back to their respective nations.
Prime Minister Modi emphasised India’s economic prowess, with GDP growth surpassing 7.5% in the first half of the financial year, outstripping global estimates and positioning India as the world’s fastest-growing economy. He highlighted projections indicating India’s ascent to the rank of the third-largest global economy, emphasising the pivotal role of the energy sector in this trajectory.
India’s energy landscape, as delineated by Prime Minister Modi, reflects the nation’s significant consumption and importation of energy resources. He noted India’s status as the world’s third-largest consumer of energy, oil, and LPG, as well as its prominence in LNG importation and automobile markets. Additionally, he underscored the burgeoning demand for electric vehicles, alongside projections indicating a doubling of energy demand by 2045.
The Prime Minister elucidated India’s strategies to meet this escalating demand, emphasising efforts to ensure affordable fuel and expand energy capacity. He highlighted initiatives such as the ambitious infrastructure push, with substantial investments earmarked for the energy sector. Notably, he underscored reforms driving increased domestic gas production and plans to augment the share of gas in the primary energy mix.
Drawing upon India’s rich heritage of sustainability, Prime Minister Modi spotlighted the Global BioFuel Alliance, a testament to India’s commitment to fostering global collaboration in renewable energy. He lauded India’s progress in the biofuel sector, citing significant increases in ethanol blending and reductions in carbon emissions. The Prime Minister also unveiled plans to install Compressed Biogas Plants and reiterated India’s goal of achieving Net Zero Emissions by 2070.
Moreover, Prime Minister Modi lauded India’s strides in renewable energy, with the nation ranking fourth globally in installed capacity. He emphasised the exponential growth of solar energy in India and announced a mission to install Solar Rooftop Panels in one crore homes, fostering self-reliance and grid connectivity. The Prime Minister also championed India’s ambitions in the green hydrogen sector, epitomised by the National Green Hydrogen Mission.
In his concluding remarks, Prime Minister Modi reiterated India’s commitment to global cooperation in sustainable energy development. He advocated for collaboration, knowledge-sharing, and investment in cutting-edge technologies to build a prosperous and environmentally sustainable future.
The India Energy Week 2024 stands as a testament to India’s resolve to lead the charge towards a greener, more sustainable energy future, reflecting the nation’s ethos of ‘India with the world and India for the world.’
