New Delhi: Prime Minister Narendra Modi in a virtual address at the ongoing India Energy Week 2025 on Tuesday said that India is rapidly advancing towards electric mobility, and swift action is needed to meet the demands of such a large country.

India aims to achieve a 20% ethanol mandate by October 2025. PM Modi noted that the current ethanol blending rate of 19% is leading to foreign exchange savings, substantial farmer revenue, and significant reductions in CO₂ emissions.

India's energy goals

He highlighted that many of India's energy goals align with the 2030 deadline, including the addition of 500 gigawatts of renewable energy capacity, achieving net-zero carbon emissions for Indian Railways, and producing five million metric tons of green hydrogen annually.

“India is driving not only its growth but also the growth of the world, with the energy sector playing a significant role,” he said.

Several major milestones will be achieved in the next five years, PM Modi added.

He also noted that India’s biofuel sector is poised for rapid growth, with 500 million metric tonnes of sustainable feedstock available.

Energy ambitions rest on five pillars

According to him, India's energy ambitions rest on five pillars—harnessing resources, encouraging innovation, economic strength and political stability, strategic geography for energy trade, and commitment to global sustainability. These factors, he said, are creating new opportunities in India's energy sector.

In the recent budget, the government has exempted several items related to the manufacturing of EV and mobile phone batteries from basic customs duty. This includes cobalt powder, lithium-ion battery waste, lead, zinc, and other critical minerals.