From LNG And Refining To Deep-Sea Exploration, PM Modi Lays Out India’s Energy Independence Strategy During India Energy Week 2026

Prime Minister Narendra Modi on Tuesday (27 January) said India has positioned itself as a major destination for global energy investments, stressing that the country is steadily transitioning from the goal of energy security to the broader ambition of energy independence.

Addressing the inaugural session of India Energy Week 2026 via video conference, Modi noted that delegates from nearly 125 countries had assembled in Goa to discuss pathways towards a secure and sustainable energy future.

He said the event had quickly grown into a significant global forum for dialogue, collaboration and action in the energy sector.

Highlighting India’s rapid economic expansion, the Prime Minister said rising domestic energy demand also creates opportunities for global partners.

He pointed out that India ranks among the world’s top five exporters of petroleum products, supplying energy to more than 150 countries, and said this capacity makes India a reliable partner in a volatile global market.

Referring to trade and economic integration, Modi described the forthcoming India–European Union Free Trade Agreement as the “mother of all deals”.

He said the agreement would showcase unprecedented coordination between two major economies and would together account for nearly a quarter of global GDP and about one-third of global trade.

The FTA, he added, would complement India’s recent trade pacts with the UK and EFTA nations, strengthen supply chains and boost manufacturing and services. He said sectors such as textiles, gems and jewellery, leather and footwear stood to gain significantly.

Turning to energy sector reforms, Modi said India offers opportunities across the entire value chain.

He highlighted exploration reforms and the Samudra Manthan Mission, under which India aims to attract $100 billion in oil and gas investments by the end of the decade and expand exploration coverage to one million square km.

Over 170 exploration blocks have already been awarded, with the Andaman and Nicobar basin emerging as a key focus area.

The Prime Minister also underlined India’s growing refining strength, noting that the country is currently the world’s second-largest refiner and is on track to become the largest, with capacity expected to exceed 300 million metric tonnes per annum.

On LNG, he said India is targeting 15 per cent of its energy demand from gas and is investing heavily in terminals, pipelines, city gas networks and a Rs 70,000 crore shipbuilding programme.

“India is now moving beyond energy security towards the mission of energy independence,” Modi said, adding that the sector offers investment opportunities worth $500 billion. He concluded by urging global investors to “Make in India, Innovate in India, Scale with India, Invest in India.”

Please click here to add Swarajya as your preferred and trusted news source on Google

Also Read: Mark Carney To Visit India In March As Canada Pushes Trade Reset, CEPA Revival And Strategic Energy Partnerships