India is set to emerge as a leading player in the global energy landscape, according to statements from Petroleum Minister Hardeep Puri. With a focus on both traditional and renewable sources, the country aims to significantly boost its energy production by the end of the decade.

"India's energy sector is on a rapid growth trajectory. We're witnessing a surge in domestic production, particularly in biofuels, compressed biogas, and green hydrogen. By 2030, India is poised to be a key player in the global energy arena," Minister Puri remarked during the ongoing India Energy Week 2024.

The India Energy Week, now in its second edition, has garnered international attention, highlighting India's progress in green energy initiatives. Minister Puri emphasized the event's growing significance as a platform for showcasing innovative products and technologies in the energy sector.

One notable development is the recent crude oil discovery by ONGC off the coast of Andhra Pradesh. With production expected to commence at 45,000-50,000 barrels per day by mid-year, this discovery marks a significant milestone for India's energy independence.

Located 30 kilometers off the coast of Kakinada in the Krishna Godavari basin, this discovery underscores India's ongoing efforts to reduce its reliance on imported crude oil. It follows ONGC's successful initiation of "first oil" production from Krishna Godavari Deep-Water Block 98/2 earlier this year.

India, being the world's third-largest oil importer and consumer, has pledged ambitious targets to combat climate change. At COP26 in 2021, India committed to its "Panchamrit" pledge, which includes reaching 500 GW of non-fossil electricity capacity, generating half of its energy from renewables, and reducing emissions by 1 billion tonnes by 2030.

Furthermore, India aims to decrease the emissions intensity of its GDP by 45%, ultimately striving for net-zero emissions by 2070. These commitments underscore India's proactive stance in addressing climate challenges while driving sustainable energy development on the global stage.

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