Last Update: February 06, 2023, 13:59 IST
Prime Minister Narendra Modi. (File photo: PTI)
Prime Minister Narendra Modi also recalled several initiatives taken by the government to promote green energy and make India net zero by 2070.
Prime Minister Narendra Modi Urging global investors to explore investment opportunities in the country’s energy sector, said on Monday India Currently the best place to be. In his inaugural address at the India Energy Week 2023, Modi said the budget (for 2023-34) has provided Rs 10 lakh crore for capital expenditure, which will boost green hydrogen, solar power and road sectors.
“I ask you to explore all the opportunities associated with India’s energy sector. India is the most suitable place for investment today,” he said at the India Energy Week, which is being attended by several ministers, corporate leaders and experts from different countries.
The Prime Minister also recalled several initiatives taken by the government to promote green energy and make India net zero by 2070.
Budget 2023-24 has provided Rs 35,000 crore to the Ministry of Petroleum and Natural Gas to achieve the net-zero target.
Modi said that India Energy Week 2023 is the first major G20 event under the chairmanship of India.
He further said that due to the initiatives of the government, crores of people have come out of poverty and come into the middle class.
The Prime Minister said that India has become the second largest producer of mobile phones and the fourth largest crude refiner in the world.
He said that India is working on increasing its refining capacity from 250 MMTPA to 450 MMTPA.
He also informed that India’s gas pipeline network will expand from 22,000 km at present to 35,000 km in the next four-five years.
Modi said the government has reduced the no-go area for oil and gas exploration to 10 lakh square kilometres, which will open up investment opportunities.
On blending 20 per cent ethanol in petrol, he said that India is moving towards achieving the target.
He said that the solar cooktop launched today will give a new dimension to cooking in India.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)