forex: Reach target of 20% ethanol blended in gasoline by 2025 to save Rs 1 lakh crore forex: Amit Shah

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If India achieves the target of blending 20% ​​ethanol in gasoline by 2025, it will save around 1 lakh crore of foreign rupees, Union Home Minister Amit Shah said on Wednesday. .

In June 2021, the Narendra Modi government had set a target of reaching 10% ethanol in gasoline by November 2022, a target achieved five months in advance, he said after having laid the foundation stone for Kribhco’s bioethanol plant in Hazira, on the outskirts of Surat City.

The rapid achievement of this target has allowed the government to advance the target of 20% ethanol blended by five years to 2025, said the Minister for Cooperation.

“Ethanol production will change the whole economy of the petroleum sector in the coming days. Reaching the 20% ethanol blend target will also save about Rs. by 2025,” Shah said.

He said biofuels are a good alternative to reduce the country’s dependence on crude oil imports, which fell from 172 MMT in 2011-12 to 212 MMT in 2021-22.

While efforts are being made in this direction across the world, India has developed a well-organized and science-based ethanol policy to achieve this, he said.

“Despite so much effort, the United States produces 55% ethanol, Brazil 27% and India 3%. What I mean is that there is a lot of potential in this area, that each cooperative unit should operate, like what has been done by Kribhco. The cooperative units will have to come forward to increase farmers’ incomes,” Shah said.

“In a way, the 10% mix reached five months ahead of the November 2022 target has reduced crude oil imports worth Rs 46,000 crore…Co-operative workers like me see this as huge increase in farmers’ incomes,” Shah said. .

Bioethanol is made from grains, molasses, plants and the 10% blend has reduced the production of 27 lakh tonnes of carbon and the absorption of 27 lakh tonnes of CO2, helping to purify our environment in both directions , did he declare.

“The day Modiji reaches the 20% blending target, these numbers will double,” the minister added.

Shah said the project initiated by Kribhco will help farmers in several ways. He said the Modi government has taken several policy decisions to encourage ethanol production to meet the 20% blend target.

He said this helped reduce carbon output by 27 lakh tonnes. With a 20% mix target achieved, all of those numbers will double, he said.

In an effort to reduce dependence on imported oil, the government is pushing to blend ethanol made from sugar cane and other agricultural products with gasoline.

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