India's Biofuel Boom: A Decade of Savings and Ambitious Future Goals

India saved Rs 1.06 lakh crore in foreign exchange over the past decade by blending biofuels like ethanol into petrol. The government aims to increase ethanol blending to 20% by 2025, reducing CO2 emissions and advancing bio-mobility. The bioenergy market is projected to reach USD 125 billion by 2050.

India, as the third largest oil importer and consumer worldwide, has made significant strides in biofuel integration, saving Rs 1.06 lakh crore in foreign exchange in the past decade, according to Oil Minister Hardeep Singh Puri.

At the CII Bioenergy Summit, Puri highlighted the increase in ethanol blending in petrol from 1.53% in 2014 to 15%. Aiming to further these efforts, the government has set a target of 20% blending by 2025.

The government also seeks advancements in Sustainable Aviation Fuel, targeting 1% blending by 2027. These initiatives align with India's robust economic growth and climate goals, positioning it as a leader in bio-mobility and expanding its bioenergy market.

(With inputs from agencies.)