Prime Minister Narendra Modi articulated his government’s vision for diminishing reliance on fossil fuels during the India Energy Week in Goa, emphasizing the strides made in the energy sector under his administration. He highlighted Goa’s dynamic environment, expressing pride in its development and hospitality, suggesting it as an apt venue for discussions on environmental sensitivity and sustainability.
Inaugurating the second edition of India Energy Week 2024, PM Modi underscored India’s remarkable progress in solar capacity, with a twenty-fold increase over the decade. He noted a significant rise in ethanol blending and the phased introduction of a 20% blended fuel, slated for full rollout by 2025. Additionally, he emphasized India’s accelerated infrastructure development to meet growing energy demands.
PM Modi pointed out India’s commitment to providing affordable energy nationwide, citing reductions in petrol and diesel prices alongside achieving 100% electricity coverage. He outlined India’s ambition to become the third-largest economy globally and highlighted its energy sector’s pivotal role in this trajectory, acknowledging its status as a major energy consumer and importer.
Diversifying energy sources was a focal point, with plans to increase the share of natural gas and invest substantially in the sector over the next few years. The government’s waste-to-wealth initiative, encompassing thousands of compressed biogas plants, was also mentioned.
Despite being a significant oil importer, PM Modi stressed India’s efforts towards a sustainable future, aiming for Net Zero Emissions by 2070 and emphasizing environmentally conscious energy sources. He announced initiatives such as providing rooftop solar to one crore families and positioning India as a hub for hydrogen production and exports.
At COP26, India committed to ambitious targets, including achieving 500 GW of non-fossil electricity capacity and reducing emissions intensity of GDP by 45%. The country’s overarching pledge includes reaching net-zero emissions by 2070.
