Prime Minister Narendra Modi on Monday urged global investors to explore investment opportunities in the country’s energy sector, saying India is the most opportune place. In his inaugural address at the India Energy Week 2023, he said the Budget (for 2023-34) had provided Rs 10 lakh crore for capital expenditure, which will boost green hydrogen, solar power, and road sectors.
The Prime Minister recalled several initiatives taken by the government to promote green energy and make India net zero by 2070. The budget 2023-24 has provided Rs 35,000 crore to the petroleum and natural gas ministry for achieving the net-zero target.
He also informed that India’s gas pipeline network would expand to 35,000 km in the next four-five years from 22,000 km. The government has reduced the no-go area for oil and gas exploration to 10 lakh square kilometres, which will unlock investment opportunities. He added that solar cooktops launched would give a new dimension to cooking in India.