'India will soon become the world's largest oil refining hub,' said PM Modi, speaking at the India Energy Week 2026 on January 27. He stated India's energy sector offers USD 500 billion investment opportunities, as the demand in domestic and international markets is on the rise. Modi urged global investors to invest in the country. The Prime Minister also said that the oil refining capacity will be expanded from 260 million tonnes per annum to 300 MTPA, and the nation is targeting USD 100 billion investments in the oil and gas sector by 2030.