Prime Minister Narendra Modi inaugurates India Energy Week

Hon’ble Prime Minister Shri Narendra Modi opened the inaugural India Energy Week in Bengaluru on Monday, under the theme of Growth, Collaboration, Transition – the first major event of G20 under India’s Presidency.

Opening the conference, Prime Minister Narendra Modi spoke of India’s “rising prowess as an energy transition powerhouse” and officially launched E20, a blend of 20 per cent ethanol with petrol, as part of the government’s plans to achieve 20 per cent ethanol blending in the overall petrol supply by 2025-2026.

The first major event under India's G20 Presidency, India Energy Week is being held under the patronage of Ministry of Petroleum & Natural Gas, Government of India, and His Excellency Minister Hardeep Singh Puri. It has convened more than 500 international speakers, over 30,000 energy professionals and 8,000 international delegates from more than 100 countries, to discuss India’s pioneering approach towards diversifying its energy mix.

Speaking at the Opening Ceremony, Prime Minister Modi said: “The energy sector plays a major role in deciding the future of the world in the 21st century. India is one of the strongest voices today in developing new resources of energy and in the energy transition. The country which is also all set to become a developed nation, has unprecedented possibilities for the energy sector.”

Addressing hundreds of international and local delegates, Prime Minister Modi attributed “a stable and decisive government” for making possible several energy-related initiatives. He said India is working with a strong focus on the crucial verticals for the energy sector – increasing domestic exploration and production; alternative energy sources such as bio-fuel, ethanol, bio-gas, solar; and electric vehicles.

Citing the IMF which has called India a “bright spot” in 2022 and projecting a growth rate of 6.8 percent, Prime Minister Modi said India will see the rise of many new Indian cities that will push the demand for energy higher. “This will bring major opportunities for investors and stakeholders of the energy sector,” he said.

India is already one of the largest energy consumers of the world. During the inaugural ceremony, Prime Minister Modi unveiled a revolutionary twin-cooktop model of the solar cooking system developed by IndianOil. He was also presented with a jacket made out of recycled plastic bottles by S.M. Vaidya, Chairman, IndianOil.

Later, Prime Minister Modi rolled out the first phase of the Ethanol -20 (E-20) grade fuel that will initially be available in 15 Indian cities and across the country in the coming years. He also flagged off a Green Mobility Rally in Bengaluru.

Addressing the Opening Ceremony, H.E. Shri Hardeep Singh Puri, Minister of Petroleum & Natural Gas, Government of India, said: “The world is at a crossroads, as we grapple with the need to guarantee energy security while meeting longer-term green goals. To power our rapid growth, India is exploring new pathways to meet spiking energy demand domestically and internationally, while ensuring our transition to net-zero. Our multi-pronged strategy to diversify our energy mix safely and sustainably will see India transition to a gas-based economy, bolstered by alternative energy sources including renewables, biofuels and green hydrogen.

The energy sector plays a major role in deciding the future of the world in the 21st century. India is one of the strongest voices today in developing new resources of energy and in the energy transition. The country which is also all set to become a developed nation, has unprecedented possibilities for the energy sector

India Energy Week is the new forum initiated by MoPNG in the year of India’s G20 Presidency, inviting business leaders and innovators from across India to share insights into its pioneering approach.”
Over three days, India Energy Week’s Strategic Conference will bring together Ministers, CEOs, and policymakers to share insights on the trends impacting global energy markets.

Executive Sessions will convene business leaders at the forefront of the energy transition to share best practices in pursuing the net-zero agenda, while the Technical Conference will offer engineers and project managers access to the latest industry expertise. India Energy Week’s agenda includes the G20 Energy Transitions Working Group and the 9th Asian Ministerial Energy roundtable, convening energy ministers from key Asian countries to map new pathways for energy security, inclusive growth, and energy transitions.

Christopher Hudson, President, Energy, dmg events, said: “Global energy transition is at the heart of India Energy Week. Driving new developments on the road to net-zero, and showcasing solutions and collaborations that will help achieve the common goal of making energy accessible, secure, and affordable for all. The overwhelming response to the inaugural edition of India Energy Week reflects the urgency of strategic action to navigate this critical moment and the readiness of the regional and international energy community to connect for shared growth.

"H.E. Haitham Al Ghais, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), said: “India will be central to global economic and energy demand growth in the years and decades ahead. India Energy Week is a great opportunity for OPEC to demonstrate our commitment to India’s future energy requirements and to participate in an all-inclusive dialogue. We, in particular, wish to emphasise the need for all energies, the critical significance of investment across the whole value chain to fuel global demand growth, while at the same time attending to the issue of climate change and reducing emissions. We remain committed to a stable and sustainable supply of oil to consumers.”

Amitabh Kant, G20 Sherpa, Government of India, said: “India is the fastest growing large economy in the world, yet it has not let its commitments to the environment and energy transition get diluted. We are the third largest producer of renewable energy in the world and remain committed to meeting 50% of our energy requirements from renewables by 2030. India’s G20 Presidency aims to give resonance to the voice of the Global South and highlight our common concerns of ensuring access to sustainable, reliable and affordable energy, while realising our SDG goals and climate ambitions.”