India targets US$ 100 billion oil and gas investments by decade-end
- IBEF
- January 28, 2026
India has set an aggressive target of attracting US$ 100 billion of investments in the country’s oil and gas sector by the end of this decade, 2030, announced Prime Minister Mr. Narendra Modi at the India Energy Week 2026 summit. This is a clear indication of the government’s plan to fast-track energy infrastructure development and decrease reliance on energy imports. Given the fact that India is one of the world’s fastest-growing major economies, the investment drive is aimed at increasing the country’s exploration activities, which will see the scope of exploration expand to almost 1 million square kilometers and over 170 hydrocarbon blocks already allocated to energy companies. Prime Minister Mr. Narendra Modi emphasized that the Andaman and Nicobar basin is a new, promising hydrocarbon basin and that the government is working on reforms in exploration and production (E&P) policies that will open areas that were previously restricted.
The investment drive for US$ 100 billion in the oil and gas sector is part of a larger US$ 500 billion opportunity in India’s energy sector, which the government is promoting to foreign investors. The investment drive includes plans to increase refining capacity from 260 million metric tonnes per annum (MMTPA) to 300 million metric tonnes per annum (MMTPA), constructing LNG import terminals, expanding the city gas network, and even developing domestic shipbuilding capacity for the transportation of LNG through a Rs. 70,000 Crore (US$ 7.78 Billion) program. The move is not only aimed at meeting the country’s growing energy demand but also at making India a globally competitive refining and energy destination by 2030.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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