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PM Modi Proclaims the Huge Possibilities in the Energy Sector

India Energy Week (IEW) is taking place in Bengaluru from 6 to 8 February,2023 is the international energy event facilitated by Indian government.

February 07, 2023. By News Bureau

India Energy Week (IEW) is taking place in Bengaluru from 6 to 8 February,2023 is an international energy event facilitated by the Indian government, with partake from all the domains of Public Sectors Undertakings (PSUs), and official contributions by Indian Oil Corporation Limited (IOCL) and the Federation of Indian Petroleum Industry (FIPI).

Prime Minister Narendra Modi stated in the speech that the energy sector in India putting efforts into becoming progressive nation, advances 'unprecedented possibilities'. He said that India as of now has generated the best possibilities for financiers, fund raisers and other energy sector stakeholders.

“India is one of the strongest voices in the world in terms of energy transmission. Energy sector has played pivotal role in deciding the future of 21st century,” he said.

His speech conveys the following core ideas :

Energy is a huge aspect in carrying out the aspirations of India and energy demand is rising in various types of industries. India is promoting new opportunities for collaborators in energy sector.
There are 4 major domains of the energy sector

Energy restoration and increased production level

Diversification of supply

Biofuel, ethanol, compressed biogas and solar power established as alternative energy sources

Decarbonisation via Electric Vehicles and Hydrogen

He also highlited the statement of Gas demand to rise by 500% in Indiaand the gas pipeline longitudehas increased from 14,000 km in 2014 to 22,000 in 2023 and will extend to 35,000 km in the coming 5 years.

For the progression of the National Green Hydrogen Mission about Rs 1 lakh crore will be invested. In addition, incentives will be provided to organizationsfor the installation of battery manufacturing units for electric vehicles. Grey hydrogen will be replaced by Green hydrogen in the coming 5 years. The government also emphasizing on the production of 5 mmpta Green Hydrogen which unlocks the exploration for investment worth ₹8 lakh crores.

The expression ‘Reduce, Re-use and Recycle’ is a part of our belief. If we aim for the recycling of 10 crore plastic bottles in a year, it will supposedly perform a significant role in environmental protection. This will also reinforce the ‘Mission LiFE’. India has put a target of Net Zero by 2070.

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