Infra thrust to spur $67 billion investment in natural gas sector: PM Modi

Feb 6, 2024

Betul (Goa): Unprecedented investment in building 21st century modern infrastructure is providing attractive opportunities for global investors to partner in the growth of India's energy sector, thereby adding Rs. 67 billion to the gas supply chain over the next five-six years. There will be dollar financing, Prime Minister Narendra Modi Said here on Tuesday.
“We are working on an infrastructure creation mission. We are investing Rs 10 lakh crore on infrastructure in the current financial year. We have invested Rs 11 lakh crore in infrastructure in the (interim) budget presented a week ago. Whatever the investment, be it construction of railways, roadways, waterways or housing – all these will require energy,” the Prime Minister said while inaugurating the second edition. india energy week (IEW).
Modi said India is investing in infrastructure at a level never seen before to meet the growing demand as the country's economy grows. “This is why almost all global oil, gas and energy sector leaders want to invest in India,” he encouraged the global oil and gas industry leaders present. IEA To take advantage of the opportunity.
Pointing out that India is the fastest growing economy today, Modi said the country's primary energy demand will double by 2045 due to the high economic growth rate of 7.5% GDP. “Experts believe that India is poised to become the third largest economy. The energy sector will play an important role in this growth story,” he said.
The PM also said that India is focusing on affordability and stability. Despite adverse global factors, India is among the few countries where petrol prices have declined and 100% electricity coverage has been achieved by electrifying crores of households in the last two years.” He said, “India is not only meeting its needs. is fulfilling, but also shaping the global direction”.
Despite being a country with 17% of the world's population, India's share in global carbon emissions is only 4%. “We are committed to further improving our energy mix by focusing on the development of environmentally sensitive energy sources,” he said, pointing to initiatives in renewable energy capacity building and biofuels. “Let us learn from each other, share cutting-edge technologies and explore pathways to sustainable energy development. Together we can create a future that is prosperous and environmentally sustainable.”

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