India Outlines Plan To Increase Biofuels Market By More Than 750 Percent By 2022
On August 10, 2016, India's Oil Minister Dharmendra Pradhan spoke at a conference in New Delhi about the future of India's biofuel market. He discussed how a target five percent biodiesel blend and a ten percent ethanol blend in gasoline could increase the biofuels market from 65 billion rupees to 500 billion rupees by 2022. The Indian biofuel industry is currently trying to achieve a five percent biobased blend for both diesel and gasoline, and aims to increase the availability of domestic biofuels through the construction of multiple ethanol plants, as well as further development of biofuel infrastructure. Part of the push to increase the use of biofuels in India is driven by a desire to reduce overseas energy purchases by ten percent by 2022, which could be significantly offset by wider availability of domestic biofuels.