In a vibrant blend of culture, energy, and innovation, Prime Minister Narendra Modi kicked off the second annual India Energy Week 2024 with a bang in Goa, promising a future fueled by sustainability, and serious growth. Under the sunny skies of Goa, known for its spirited vibes and warm welcomes, the event not only celebrated the region’s developmental strides but also set the stage for discussions on a greener future.
The Prime Minister’s welcome speech highlighted Goa’s unique charm and its fitting role as the host for such a forward-thinking event. With India’s GDP growth rate sprinting past global estimates at over 7.5% in just the first half of the fiscal year, Modi painted a picture of a nation on the fast track to becoming the world’s third-largest economy, powered significantly by an expanding energy sector.
India’s position as a top consumer and importer in the global energy market isn’t just for show. Modi emphasized the nation’s pivotal role in steering the global energy discourse, alongside ambitious plans to double its energy demand by 2045. With a budget allocation of 11 lakh crore rupees earmarked for infrastructure, a significant slice is destined for energy projects, aiming to boost domestic gas production and increase the gas share in India’s energy mix to 15%.
The Global BioFuel Alliance’s formation under India’s G20 Summit presidency showcases the country’s commitment to biofuels, with 22 nations joining forces to promote sustainable energy and unlock a $500 billion economic opportunity. Modi also boasted about the ethanol blending in petrol jumping to 12% in 2023, a significant rise from 1.5% in 2014, marking a step towards reducing carbon emissions by about 42 million metric tons.
Aiming to transform rural economies, Modi announced plans to set up 5000 Compressed Biogas Plants across India. With a keen focus on sustainability, he reaffirmed India’s commitment to improving its energy mix with environmentally friendly sources and achieving Net Zero Emissions by 2070.
On the solar front, India’s making sunny strides with a Solar Energy Installed Capacity that’s grown over 20 times in the past decade. Modi’s mission to install Solar Rooftop Panels in one crore homes symbolizes a giant leap towards self-reliance in the energy sector.
As India hosts the largest and most inclusive energy exhibition and conference in Goa, it’s not just showcasing its commitment to sustainable energy but also its willingness to play a pivotal role in the global green revolution. With a clear message of “India with the world and India for the world,” India Energy Week 2024 stands as a testament to the nation’s dedication to building a prosperous and environmentally sustainable future, all from the scenic setting of Goa, where every participant is guaranteed to leave with unforgettable memories and perhaps, a tan.
