India can save precious foreign exchange to the tune of USD 6.12 billion from its oil import bill by 2021-22 if it achieves the targeted 20 per cent ethanol mix in transportation fuel as per the scheduled timeline, a report said today.
Praj Industries has launched a 'Green Fund' that will help it take up projects to make second-generation ethanol projects -- a move it says will help the government achieve its target of mixing automotive fuels with 10 percent ethanol by 2022.