India’s energy sector offers $500-billion investment opportunity: PM Modi
Prime Minister Narendra Modi on Tuesday called upon global energy players to invest in India’s energy sector across exploration and downstream sectors, and said the country offers investment opportunities worth $500 billion.
The country is now moving towards energy independence, as it has in the past few years ensured energy security, Modi said, addressing the inaugural session of the India Energy Week 2026.
He said the government aims to attract $100 billion in investments in the oil and gas exploration space by 2030.
India is the third-largest importer of oil, sourcing about 90% of its crude oil requirements from other countries. The ongoing geopolitical tensions, including in West Asia, US intervention in Venezuela, and sanctions on key Russian oil suppliers, have forced Indian refiners to diversify their import basket.
“The energy sector is at the centre of our aspirations. It has opportunities worth $500 billion. So, I call upon all players to make in India, innovate in India, scale with India, and invest in India,” he said.
“India is developing an energy sector ecosystem capable of meeting local demand and, through affordable refining and transportation solutions, making exports highly competitive for the world,” he added.
Apart from efforts to diversify energy sourcing, India has also been trying to increase domestic hydrocarbon production. He also highlighted efforts to open up its exploration sector and referred to the Samudra Manthan Mission aimed at boosting deep-sea exploration.