PM Modi has predicted that India will invest a total of $67 billion, or about ₹5.5 trillion, in the power sector over the next five to six years.

PANAJI: Prime Minister Narendra Modi has announced that a significant part of next year’s proposed 11 lakh crore infrastructure and budget will be spent on the power sector to meet the country’s high demand. Tuesday, inviting international investors to participate in the development of India.

Prime Minister Modi said in his speech at the India Energy Week in Goa Primary energy demand is expected to double by 2045 and we are preparing for it. He also emphasized that his government is working to ensure affordable energy for our citizens and improves energy combination.

Prime Minister Modi predicted that over the next five to six years, India’s investment in the power sector would total $67 billion, or about ₹5.5 lakh.

He also invited international companies to join the expansion of the country and energy sector, noting that the country’s refining capacity is expected to increase from 254 MMTPA (million tonnes per annum) to 450 MMTPA by 2030. According to Prime Minister Modi,A significant part of the ₹ 11 lakh crore allocated for infrastructure in the Union Budget last week will go to the power industry. This amount, he said, would produce energy-intensive assets such as homes, rivers, airways, railways and roads, thus encouraging India’s efforts increase its energy capacity.

increasing domestic gas production as a result of government reforms and national efforts to increase the share of gas in primary energy from 6% to 15%. About $67 billion will be invested in it over the next five to six years.India is committed to achieving a net-zero economy by 2070 and increasing the share of clean electricity in its electricity mix from the current 40% to 50% by the end of the decade.

According to Prime Minister Modi, India’s economy is growing faster than the rest of the world, surpassing the estimates of other countries. India is currently the third largest consumer of energy, oil and LPG in the world. It is fourth in terms of LNG consumption, refinery production and car market.Economic experts around the world believe that India will soon become the third largest economy in the world, Modi announced.In an earlier statement, Union Petroleum and Natural Gas Minister Hardeep Singh Puri praised the country for its practical efforts to unite a deeply divided world and ensure uninterrupted energy flow.

India has sought to act as a unifier of global energy markets using its market mechanisms and other tools in response to the turmoil of the past two years. Puri stated We must come together and work together to define a comprehensive, market-oriented and climate-sensitive energy agenda.India Energy Week 2024 dates are 6-9. February.