The vibrant state of Goa set the stage for the inauguration of India Energy Week 2024, graced by the esteemed presence of Prime Minister Shri Narendra Modi. Held from February 6 to February 9, this event marks India’s most expansive energy exhibition and conference, aimed at propelling the nation towards its ambitious energy transition goals.
In his address, Prime Minister Modi welcomed attendees to the second edition of India Energy Week, emphasizing Goa’s spirited atmosphere and its significance as a venue for discussions on sustainability and environmental consciousness. Highlighting India’s remarkable economic growth, with GDP rates exceeding 7.5 percent, the Prime Minister positioned India as the world’s fastest-growing economy, a beacon for global development.
India’s energy prowess was underlined by the Prime Minister, citing its status as the world’s third-largest consumer of energy, oil, and LPG, and the fourth-largest importer of LNG and automobile market. He underscored the surging demand for Electric Vehicles (EVs) and projected doubling of the nation’s energy demand by 2045. Despite global challenges, India’s proactive measures in ensuring affordable fuel and achieving 100 percent electricity coverage were lauded.
The government’s commitment to infrastructure development, with a significant allocation of 11 lakh crore rupees in the recent budget, signals a robust expansion in the energy sector. Prime Minister Modi outlined plans to boost domestic gas production and increase the percentage of gas in the primary energy mix to 15 percent, attracting substantial investments in the coming years.
Echoing India’s ancient principles of sustainability, Prime Minister Modi stressed the significance of circular economy concepts in the energy sector, exemplified by initiatives like the Global BioFuel Alliance. With 22 nations and 12 international organizations onboard, this alliance aims to promote biofuels, offering economic opportunities worth $500 billion.
The Prime Minister also underscored India’s strides in renewable energy, ranking fourth globally in installed capacity, with 40 percent sourced from non-fossil fuels. Initiatives like the Solar Rooftop Panels mission for one crore homes demonstrate India’s commitment to self-reliance in energy production and grid integration.
Emphasizing India’s commitment to global cooperation, Prime Minister Modi positioned India Energy Week as a platform for collaborative efforts towards sustainable energy development. Encouraging knowledge sharing and technological collaboration, he reiterated India’s aspiration for a prosperous and environmentally sustainable future.
India Energy Week 2024 aims to foster collaboration, innovation, and integration of startups into the energy value chain. With participation from 17 Energy Ministers, over 35,000 attendees, and 900 exhibitors, the event promises to showcase cutting-edge solutions and reinforce India’s position as a global leader in sustainable energy.
As India marches towards Aatmanirbharta (self-reliance) in energy, India Energy Week 2024 emerges as a pivotal moment, driving the nation’s energy transition agenda while fostering global partnerships for a greener, more sustainable future.