Sugar accounts for just ~38 percent of ethanol supplied, with grains like rice and maize making up the rest
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These concerns that were conveyed to the petroleum ministry stem from India becoming import dependent for a grain that it typically exports.
An inter-ministerial committee is working on ways to ensure food security while ramping up ethanol production, as India plans to increase ethanol blending in petrol beyond 20 percent.
Industry experts told Moneycontrol that automakers would have to make some changes in the engine for the vehicle to be compliant with a fuel having an ethanol blend of over 20 percent, increasing the overall cost by 2.5 percent to 4 percent.
The government is targeting 20 percent ethanol blending in petrol in the Ethanol Supply Year 2024-25, which ends in October 2025
Executive Chairman of Praj Industries, Pramod Chaudhari said energy transition and climate actions (ETCA) sectors have a global potential, which is expected to drive growth.
Sugar stocks surged after the government greenlit the use of sugarcane juice and B-Heavy molasses for Rectified Spirit and Extra Neutral Alcohol production, boosting shares of major players like Bajaj Hindustan Sugar and Balrampur Chini Mills.
Speaking at an event organised by the National Federation of Cooperative Sugar Factories (NFCSF), Amit Shah said India would achieve its 20 percent ethanol blending target by 2025-26, ahead of the original 2030 deadline.
According to oil ministry data, India reached blending of ethanol in petrol to the extent of 15.4 percent in the month of May, compared to 12.7 percent in the previous month. The 15 percent ethanol blending holds importance as the government aims to reach 20 percent blending in petrol by 2025.
Sugar stocks such as Shree Renuka Sugars, Balrampur Chini Mills, Dalmia Bharat Sugar, EID Parry zoomed up to 13 percent amid report that the government is considering increasing minimum support price (MSP) of sugar for 2024-25.
India has been accelerating efforts to achieve 20 percent ethanol blending with petrol by 2025 in a bid to reduce reliance on crude oil imports. India is looking to benefit by taking a leaf out of the techniques used by the Latin American nation for ethanol blending
India has a surplus of sugar, corn and wheat, which can be used for making ethanol, the road transport and highways minister said at the first edition of Moneycontrol Policy Next—The Rs 10 Trillion Infra Push summit
Prime Minister Narendra Modi’s government aims to achieve 20% blending of ethanol in petrol by 2025 from the present levels of 10%.
The official, speaking on condition of anonymity, said that a row over an alleged Chinese spy balloon "would have significantly narrowed the agenda" for Blinken had he gone ahead.
The year saw car companies in India beginning to explore Metaverse, that’s touted as the future of the automotive industry. NFTs too, entered the auto industry in 2022
Oil marketing companies Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited had challenged the tax demand.
2G ethanol plants use surplus biomass and agricultural waste to produce ethanol, which is then blended with petrol. This helps India cut down on its crude oil imports, cut CO2 emissions, dispose of agri stubble, and increase farmers’ income, among others.
Dedicating the second-generation ethanol plant of India Oil Corporation to the nation in Panipat, Haryana, PM Modi said that the same amount of Rs 50,000 crore has gone to farmers.
"E20 petrol (petrol blended with 20 per cent ethanol) in some quantity will be available from April 2023 and the rest to be covered by 2025," Oil Minister Hardeep Puri said.
The dedication of the plant is part of a long series of steps taken by the government over the years to boost the production and usage of biofuels in the country, said the statement.
World Biofuel Day is observed every year on 10th August to create awareness about the importance of non-fossil fuels as an alternative to conventional fossil fuels.