Prime Minister Narendra Modi inaugurated the second edition of India Energy Week 2024 in Goa, emphasizing India’s dedication to sustainable energy development. The event, serving as India’s premier energy exhibition and conference, brought together global leaders, CEOs, and experts from the energy sector to delve into India’s energy transition objectives.
During his address, PM Modi underscored India’s robust economic growth, with GDP exceeding 7.5 percent in the initial half of the financial year, positioning India as the world’s fastest-growing economy. He accentuated the pivotal role of the energy sector in India’s growth narrative, recognizing India’s stature as a significant consumer of energy, oil, LPG, LNG, and its burgeoning electric vehicle market.
PM Modi outlined India’s strategies to meet the doubling energy demand by 2045, including substantial investments in infrastructure and endeavors to elevate the percentage of gas in the energy mix from 6 to 15 percent. He also emphasized India’s commitment to the circular economy, particularly in the biofuel sector, with initiatives such as ethanol blending and Waste to Wealth Management.
The Prime Minister unveiled ambitious targets for renewable energy, spotlighting India’s strides in solar energy and the initiation of missions like Solar Rooftop Panels installation and the National Green Hydrogen Mission. He stressed the investment potential in the solar value chain and India’s aspiration to emerge as a hub for hydrogen production and export.
PM Modi reaffirmed India’s dedication to global cooperation in the energy domain, advocating for collaboration, knowledge exchange, and exploration of sustainable energy development avenues. He concluded optimistically, envisioning a prosperous and environmentally sustainable future built in collaboration with global partners.
The event witnessed the presence of dignitaries including the Governor and Chief Minister of Goa, along with Union Ministers for Petroleum and Natural Gas, demonstrating the government’s unwavering support and involvement in India’s energy transition endeavors.
PM Modi highlighted India’s remarkable progress in renewable energy, noting that it ranks fourth globally in Renewable Energy Installed Capacity, with 40 percent of installed capacity originating from non-fossil fuels. He emphasized the significant growth in India’s Solar Energy Installed Capacity over the past decade, reflecting the momentum of the solar energy campaign in the country.
The Prime Minister spotlighted the transformative impact of initiatives like the Solar Rooftop Panels mission, aimed at making one crore families self-reliant in the energy sector while contributing excess electricity generated to the grid. He also underlined India’s strides in the green hydrogen sector through the National Green Hydrogen Mission, expressing confidence in India’s potential to emerge as a leader in green energy production and export.
In essence, the India Energy Week event epitomizes India’s commitment to global collaboration in sustainable energy development, as PM Modi articulated, it is a reflection of ‘India with the world and India for the world’ sentiment, urging for mutual learning, technological collaboration, and sustainable energy exploration.
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