New Delhi, Jan 27 (NationPress) Prime Minister Narendra Modi stated on Tuesday that India’s energy sector presents investment prospects totaling 500 billion dollars. He called on global oil and gas companies to "Make in India, Innovate in India, Scale with India, Invest in India."

While addressing the India Energy Week 2026 through video conferencing—with participation from representatives of nearly 125 nations in Goa—PM Modi emphasized the extensive investment opportunities across various segments of the energy value chain.

He pointed out that India has made substantial advancements in its exploration sector, mentioning the deep-sea exploration initiative, the Samudra Manthan Mission. The goal is to elevate investments in the oil and gas sector to 100 billion dollars by the end of this decade, targeting an expansion of exploration to one million square kilometers. Over 170 exploration blocks have been awarded, with the Andaman and Nicobar basin emerging as the next hydrocarbon frontier, PM Modi noted.

Highlighting several reforms in the exploration sector, including the reduction of no-go areas, the Prime Minister stated that feedback from earlier editions of India Energy Week has influenced changes in laws and regulations. He assured that companies investing in exploration can expect enhanced profitability.

Moreover, PM Modi mentioned that India boasts a significant refining capacity, ranking second globally, and is on track to become the leading country in refining capacity. The current refining capacity is approximately 260 million metric tonnes (MMT) annually, with efforts being made to exceed 300 MMT per year.

He noted that the demand for LNG in India is consistently increasing, with a target of fulfilling 15 percent of the country's total energy demand through LNG. The Prime Minister stressed the importance of developing the entire LNG value chain and highlighted India's commitment to building the necessary vessels for LNG transport domestically, supported by a new shipbuilding initiative worth Rs 70,000 crore. Significant investment opportunities are also available in constructing LNG terminals at Indian ports and in regasification projects.

PM Modi emphasized the necessity of a comprehensive pipeline network for LNG transport, where substantial investments have already been made, yet vast opportunities remain. He pointed out that city gas distribution networks have expanded to many Indian cities and continue to grow, making this sector an attractive investment prospect.

With India's large population and fast-growing economy, the demand for petrochemical products is expected to rise, necessitating extensive energy infrastructure. He assured that investment in this domain would lead to remarkable growth and highlighted the abundant opportunities in downstream activities for investors.

"Today’s India is on the Reforms Express and is rapidly reforming across all sectors," PM Modi stated.

He reiterated that reforms are underway to bolster domestic hydrocarbons while establishing a transparent and investor-friendly atmosphere for global partnerships. India is creating an energy sector ecosystem capable of fulfilling local demand and, through affordable refining and transportation solutions, making exports highly competitive globally.