PM Narendra Modi urges global investors to explore investment opportunities Indian energy sector

Prime Minister Narendra Modi on Monday urged global investors to explore investment opportunities in country's energy sector, saying India is most opportune place at present.

Modi in his inaugural dress at India Energy Week 2023 said Budget (for 2023-34) has provided Rs 10 lakh crore for capital expenditure, which will give a boost to green hydrogen, solar power and ro sectors.

"I ask you to explore all opportunities connected with India's energy sector. India is most opportune place for investment today," he said at India Energy Week in Bengaluru, which is being attended by several ministers, corporate leers and experts from different nations.

Prime Minister also recalled several initiatives taken by government to promote green energy and make India net zero by 2070.

budget 2023-24 has provided Rs 35,000 crore to petroleum and natural gas ministry for achieving net-zero target.

India Energy Week 2023 is first major event of G20 under India's presidency, Modi ted.

He furr stated that crores of people have come out of poverty and entered middle class due to government initiatives.

India has become second-largest producer of mobile phones and fourth-largest crude refiner in world, Prime Minister ted.

India, he said, is working on expanding its refining capacity from 250 MMTPA to 450 MMPTA.

He also informed that India's gas pipeline network will expand to 35,000 km in next four-five years from 22,000 km presently.

government has reduced -go area for oil and gas exploration to 10 lakh square kilometres, which will unlock investment opportunities, Modi said.

On 20 per cent ethal blending with petrol, he said India is moving towards achieving target.

Solar cooktops launched today will give a new dimension to cooking in India, he said.