Today, India is a land of immense opportunities for the energy sector: PM
India–EU FTA is a remarkable example of coordination between two of the world’s largest economies: PM
Prime Minister Narendra Modi addressed a gathering during the inauguration ceremony of India Energy Week 2026 via video conferencing today. Speaking on the occasion, PM Modi remarked that in this new edition of Energy Week, representatives from nearly 125 countries have gathered in Goa. He highlighted that they have come to India to discuss an energy-secure and sustainable future and welcomed all the participants.
Highlighting that India Energy Week has, in a very short span of time, emerged as a global platform for dialogue and action, Prime Minister remarked that today India is a land of immense opportunities for the energy sector. He underlined that India is the world’s fastest growing economy, which means the demand for energy products in the country is continuously rising. He emphasized that India also offers excellent opportunities to meet global demand. PM Modi noted that India is among the top five exporters of petroleum products in the world, with export coverage extending to more than 150 countries. He stated that this capacity of India will be of great benefit to all. He further stressed that the Energy Week platform is an excellent place to explore partnerships and extended his best wishes to all participants.
Prime Minister stated that before moving ahead with his remarks, he wished to highlight a major development. He noted that just yesterday, a significant agreement was signed between India and the European Union, which people across the world are calling the “mother of all deals.” PM Modi emphasized that this agreement brings immense opportunities for India’s 140 crore people and millions across European nations. He underlined that it stands as a remarkable example of coordination between two of the world’s largest economies. The Prime Minister highlighted that the agreement represents nearly 25 percent of global GDP and about one-third of global trade. He remarked that beyond trade, the deal strengthens the shared commitment to democracy and the rule of law.
PM Modi pointed out that the free trade agreement with the EU will complement the agreements with Britain and EFTA, thereby reinforcing both trade and global supply chains. He extended warm congratulations to India’s youth and all citizens for this achievement, and also conveyed his best wishes to those engaged in sectors such as textiles, gems and jewellery, leather, and footwear, noting that the agreement will prove highly beneficial for them. The Prime Minister stressed that this trade deal will not only boost manufacturing in India but also expand the services sector further. He affirmed that the free trade agreement will strengthen global business and investor confidence in India.
Emphasizing that India is actively working on global partnerships across every sector, PM Modi remarked that in the energy sector alone, there are vast investment opportunities across different areas of the energy value chain. PM Modi highlighted that India has significantly opened up its exploration sector and referred to the deep-sea exploration initiative known as the Samudra Manthan Mission. He stated that by the end of this decade, India aims to raise investments in the oil and gas sector to 100 billion dollars, with a target of expanding the scope of exploration to one million square kilometers. The Prime Minister noted that more than 170 blocks have already been awarded, and the Andaman and Nicobar basin is emerging as the next hydrocarbon hope.
Source and read more: PIB
