Government Encourages Foreign Investment
Narendra Modi has invited global investors to participate in India’s power sector. Pankaj Agarwal the Union Power Secretary delivered his message at the India Electricity Summit 2026.
Modi instructed investors to develop international business relationships with India through his message which specified three methods:
- Energy project investments
- Technological advancements through innovation
- Long-term partnership development through collaborative efforts
The foreign companies should see the "Make in India" program as their primary business opportunity according to his statement.
India’s Energy Sector at a Key Stage
Modi declared India to be the fastest-growing major economy at this time. He described the current stage of development for the nation's energy sector.
- He pointed out that:
- The sector presents significant potential for growth
- The summit creates opportunities for developing new business relationships
- Partnerships between organizations will help the nation achieve its development objectives
He reported that the government has undertaken infrastructure improvements to deliver dependable high-quality electrical power throughout the nation.
Progress in Renewable Energy
The Prime Minister highlighted India's progress toward achieving renewable energy goals.
Key developments include:
- Non-fossil fuel sources now account for 50% of installed power capacity
- The country continues to work on increasing its clean energy production capacity
- India aims to establish 500 GW of renewable energy capacity by 2030
India aims to create more sustainable energy solutions while decreasing its need for fossil fuels according to these measures.
Investment Requirements for Future Goals
Pankaj Agarwal provided estimates for future investment needs in the power sector.
He stated that:
- The energy sector requires $2.2 trillion for investments which will occur during the next two decades
- This funding will support renewable energy expansion
- The project will create 97 GW of thermal power capacity which will be operational by 2034–35.
These investments are necessary to meet rising energy demand and support economic growth.
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