India's Energy Boom: New Policies and Global Investment

Union Minister Hardeep Singh Puri announced a new policy on Compressed Bio Gas (CBG) at the India Energy Week in Goa. With India's booming energy sector offering vast investment opportunities, the completion of the India-EU FTA paves the way for increased foreign investment, bolstering India's global position.

The Ministry of Petroleum and Natural Gas is set to introduce a policy on Compressed Bio Gas (CBG), aiming to strengthen the already established policy framework. This initiative will provide financial support for biomass aggregation machinery and further the development of pipeline infrastructure, according to Union Minister Hardeep Singh Puri.

Speaking at the India Energy Week in Goa, Puri highlighted the enormous $500 billion opportunity within India's energy sector. Following a meeting with Prime Minister Modi, 27 CEOs expressed their confidence in India's economic growth. The minister emphasized India's pivotal role in global energy discussions, particularly regarding consumption and sustainability.

Regarding the India-EU FTA, Minister Puri acknowledged the prolonged negotiations but expressed optimism with its recent conclusion, anticipating implementation by 2026. He cited the CEOs' optimism about India's growth, while Prime Minister Modi reinforced the importance of these dialogues in enhancing policy and investment appeals.

(With inputs from agencies.)