GG News Bureau
Panaji, 6th Feb. Prime Minister Narendra Modi on Tuesday inaugurated the India Energy Week 2024 in Goa today, marking the commencement of the country’s largest and most comprehensive energy exhibition and conference.
The event serves as a crucial platform to unite stakeholders across the energy spectrum and drive India’s ambitious goals for energy transition.
Addressing attendees, Prime Minister Modi extended a warm welcome to the second edition of India Energy Week, highlighting the vibrant atmosphere of Goa, renowned for its hospitality and natural allure. He emphasized that Goa’s dynamic environment sets the stage for meaningful discussions on sustainable development and environmental consciousness.
Prime Minister Modi underscored the significance of India Energy Week 2024 occurring at a pivotal juncture, coinciding with India’s impressive GDP growth rate surpassing 7.5 percent in the initial months of the financial year. He proudly announced India’s status as the world’s fastest-growing economy, with projections indicating further growth momentum, positioning India as a global economic powerhouse.
Drawing attention to India’s energy landscape, Prime Minister Modi noted the nation’s pivotal role as the world’s third-largest consumer of energy, oil, and LPG, along with being a major importer and refiner of LNG and a prominent automobile market. He highlighted the burgeoning demand for electric vehicles (EVs) and projected a doubling of India’s energy requirements by 2045.
Prime Minister Modi elaborated on India’s strategies to meet this escalating demand, emphasizing efforts to ensure affordable fuel and expand energy infrastructure. He cited significant allocations in the recent budget toward infrastructure development, particularly in the energy sector, aimed at enhancing India’s energy capacity.
Expounding on India’s commitment to environmental sustainability, Prime Minister Modi emphasized the circular economy principles ingrained in India’s ancient traditions, exemplified by initiatives such as the Global BioFuel Alliance. He highlighted India’s remarkable progress in the biofuel sector, particularly in ethanol blending, and reiterated the government’s target of achieving 20 percent ethanol blending in petrol by 2025.
Furthermore, Prime Minister Modi unveiled plans for the installation of 5,000 Compressed Biogas Plants in India, signaling the government’s dedication to waste-to-wealth management and sustainable development. He reaffirmed India’s pledge to combat climate change, aiming for net-zero emissions by 2070.
Highlighting India’s strides in renewable energy, Prime Minister Modi celebrated the nation’s fourth rank globally in renewable energy installed capacity, with 40 percent of installed capacity sourced from non-fossil fuels. He praised the exponential growth of solar energy in India and announced a major mission to install solar rooftop panels in one crore homes across the country.
Prime Minister Modi concluded by emphasizing India’s commitment to global cooperation in the energy sector, inviting collaboration and knowledge exchange to drive sustainable energy development. He expressed optimism about building a prosperous future while prioritizing environmental conservation.
The inaugural event witnessed the presence of dignitaries including Governor of Goa Shri P S Sreedharan Pillai, Chief Minister of Goa Shri Pramod Sawant, Union Minister for Petroleum and Natural Gas Shri Hardeep Singh Puri, and Union Minister of State for Petroleum, Oil, and Natural Gas Shri Rameswar Teli, among others, reaffirming the collective commitment to India’s energy goals.
