Prime Minister Narendra Modi announced plans to invest $67 billion in the energy sector over the next five to six years

Inaugurating the India Energy Week (IEW) in Goa today, Prime Minister Narendra Modi said that India will see investments totaling $67 billion in the sector in the next five to six years. 

“India is already the third largest energy consumer in the world. We are pushing to increase natural gas to 15 percent from 6 percent. For this, in the next 5-6 years around $67 billion will be invested,” the PM said. 

India ranks fourth globally in installed renewable energy capacity, with 40% sourced from non-fossil fuels. 

The PM highlighted India’s 100% electricity coverage and the Global BioFuel Alliance’s support for biofuels. He announced plans for 5,000 compressed biogas plants across the country and reaffirmed India’s commitment to achieving net-zero emissions by 2070. 

He spoke about India’s progress in solar power and pledged to spend over ₹11 lakh crore on infrastructure, with a significant portion of this going towards the energy sector.