"Winds of change are evident in the global energy arena. There is a shift in energy consumption from West to East," Modi said addressing the Petrotech Expo Mart being organised here.

"Energy supply, energy sources and energy consumption patterns are changing. Perhaps, this could be a historic transition," he added.

The Prime Minister also said that signs of convergence between cheaper renewable energy, technologies and digital applications was also becoming evident.

"This may expedite the achievement of Sustainable Development Goals (SDGs). Nations are coming together to tackle climate change," he stated.

Talking about energy justice in India which has been given top priority by the government, Modi stated that many policies have been developed and implemented.

"We need to move to responsible pricing, which balances the interests of both the producer and consumer. We also need to move towards transparent and flexible markets for both oil and gas," he noted.