India Targets Major Energy Expansion with USD 500 Billion Investment Opportunity

Prime Minister Narendra Modi on Tuesday highlighted the vast potential of India’s energy sector, stating that it offers investment opportunities worth nearly USD 500 billion. Speaking virtually at the inauguration of India Energy Week 2026, the Prime Minister invited global investors to partner in India’s rapidly expanding energy market, driven by rising demand and sustained policy reforms.

Modi said India is fast emerging as one of the most attractive destinations for energy investments and is on track to become the world’s largest oil refining hub in the near future. He noted that the government is targeting investments of around USD 100 billion in the oil and gas sector by 2030. As part of this expansion, India’s oil refining capacity is expected to increase from the current 260 million tonnes per annum (MTPA) to 300 MTPA.

Emphasising structural reforms, the Prime Minister said India is “riding the reforms express,” with wide-ranging changes being implemented across multiple sectors to improve ease of doing business and long-term growth prospects.

He also spoke about the growing importance of global trade partnerships, stating that the proposed India–EU Free Trade Agreement, along with the India–UK trade deal, will significantly boost manufacturing and strengthen the services sector. Describing the India–EU agreement as the “mother of all deals,” Modi said it represents strong coordination between two major economies and opens up new opportunities for both Indian and European stakeholders. Together, these economies account for about 25 per cent of global GDP and nearly one-third of global trade.

India Energy Week 2026 continues to serve as a key international platform, bringing together policymakers, industry leaders and innovators to advance energy security, sustainability and inclusive growth.