Biofuels: Narendra Modi Government Working On Rs 1 Lakh Cr Business Opportunity To Power India


Biofuels: Narendra Modi Government Working On Rs 1 Lakh Cr Business Opportunity To Power India

Biofuels have the potential to be a Rs 1 lakh-crore business opportunity in India in the next few years, Dharmendra Pradhan, minister of petroleum and natural gas, said on Friday. Pradhan said if 20% blending of ethanol with petrol was achieved by 2030, the country would need 1,000 core litres of ethanol and this could be a Rs 50,000 crore business, and a 5% bio-diesel blending would mean a Rs 30,000-crore business. A similar opportunity in processing agri waste, urban waste and converting it into bio-CNG and methanol would take the total bio-fuel business opportunity to Rs 1 lakh crore, the minister said. The new bio fuel policy that the government is working on will enable the growth of the bio-fuel sector and will be taken to the cabinet soon, Pradhan said at a conference on ‘Ethanol as a Transport Fuel’ organised by the Indian Federation of Green Energy (IFGE) and Central Institute of Road Transport (CIRT) under the Ministry of Road Transport & Highways in Pune. Read More…

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