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POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

With its scale, innovation, and global participation, IEW’25 is poised to position India at the forefront of
the global energy transition.

Prime Minister Shri Narendra Modi addressed inaugural session of India Energy Week 2025

The Prime Minister Shri Narendra Modi delivered his remarks at the inauguration of third edition of India
Energy Week 2025 via video message. Addressing the gathering at Yashobhoomi, he emphasized that the
attendees are not just part of the Energy Week, but are also integral to India’s energy ambitions.

India Energy Week was envisioned as more than just another industry conference, it was designed to be
a dynamic platform redefining global energy dialogues. In just two years, this self-funded initiative has
achieved precisely that, becoming the world’s second-largest energy event. IEW 2025, scheduled from
February 11-14, 2025, at Yashobhoomi, New Delhi, represents a significant milestone in shaping the global
energy narrative.

Highlighting that experts worldwide are asserting that the 21st century belongs to India, Shri Modi
remarked, “India is driving not only its growth but also the growth of the world, with the energy sector
playing a significant role”. He emphasized that India’s energy ambitions are built on five pillars: harnessing
resources, encouraging innovation among brilliant minds, economic strength and political stability,
strategic geography making energy trade attractive and easier, and commitment to global sustainability.
The Prime Minister noted that these factors are creating new opportunities in India’s energy sector.

“India has grown from the tenth largest to the fifth largest economy in the past decade”, remarked Shri
Modi. He highlighted that India’s solar energy generation capacity has increased thirty-two times in the
last ten years, making it the third-largest solar power generating nation in the world. He noted that India’s
non-fossil fuel energy capacity has tripled and that India is the first G20 country to achieve the goals of
the Paris Agreement. The Prime Minister emphasized India’s achievements in ethanol blending, with a
current rate of nineteen percent, leading to foreign exchange savings, substantial farmer revenue, and
significant reductions in CO2 emissions. He highlighted India’s goal of achieving a twenty percent ethanol
mandate by October 2025. He remarked that India’s biofuels industry is ready for rapid growth, with 500
million metric tonnes of sustainable feedstock. He further noted that during India’s G20 presidency, the
Global Biofuels Alliance was established and is continuously expanding, now involving 28 nations and 12
international organizations. He highlighted that this alliance is transforming waste into wealth and setting
up Centers of Excellence.

Highlighting that India is continuously reforming to fully explore the potential of its hydrocarbon
resources, Shri Modi highlighted that major discoveries and extensive expansion of gas infrastructure are
contributing to the growth of the gas sector, increasing the share of natural gas in India's energy mix. He
noted that India is currently the fourth largest refining hub and is working to increase its capacity by 20
percent.

Pointing out that India's sedimentary basins hold numerous hydrocarbon resources, some of which have
already been identified, while others await exploration, the Prime Minister highlighted that to make
India's upstream sector more attractive, the Government introduced the Open Acreage Licensing Policy

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