Nomura Research Institute (NRI), a leading global management consulting enterprise, says betting big on CNG will help India sharply cut down its dependence on fossil fuels for transportation purposes. In its recently released report on ‘CNG Infrastructure Development: A boon for the Indian Economy’, Nomura Research says natural gas vehicles are the fastest way to reduce oil imports in the transportation sector.
High customer acceptance, availability of CNG vehicles and presence of local component manufacturing could facilitate quick substitute to oil imports and hence early realisation of the benefits. However, the sole and major constraint to the adoption of Natural Gas Vehicles (NGVs) is the NGV infrastructure and dispensing stations.
The current plan for natural gas infrastructure development unveiled by the government of India is a step in the right direction, says Nomura. It entails establishing 10,000 CNG stations in the next 10 years. Read More