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India set to make major biofuel investment

By Prime Minister's Office, Government of India - This file or its source was published by Press Information Bureau on behalf of Prime Minister's Office, Government of India under the ID 53989 and CNR 56765. (direct link)This tag does not indicate the copyright status of the attached work. A normal copyright tag is still required. See Commons:Licensing for more information.Shri Narendra Modi sworn in as Prime Minister, GODL-India, https://commons.wikimedia.org/w/index.php?curid=33011003
By Prime Minister's Office, Government of India - This file or its source was published by Press Information Bureau on behalf of Prime Minister's Office, Government of India under the ID 53989 and CNR 56765. (direct link)This tag does not indicate the copyright status of the attached work. A normal copyright tag is still required. See Commons:Licensing for more information.Shri Narendra Modi sworn in as Prime Minister, GODL-India, https://commons.wikimedia.org/w/index.php?curid=33011003

In a bid to reduce its crude oil imports over the next four years, India is set to invest heavily in biofuels.

Various media outlets are reporting that on 10 August, India’s Prime Minister Narendra Modi announced the plans to build the country’s biofuel capacity through 100 billion rupees of investment.

India is one of the world’s biggest oil importers and consumers. According to the Nahvind Times, the country relies on imports to meet 81% of its needs.

“The target is to raise ethanol production for doping in petrol to 450 crore litres in four years that will save Rs 12,000 in import bill,” Modi said at a function to mark the World Biofuel Day, according to the Telegraph India.

“Biofuels can help reduce import dependency on crude oil. They can contribute to a cleaner environment, generate additional income for farmers and create rural jobs.” Modi continued.

The investment will go towards building 12 new biorefineries in the country, which will produce biofuel from feedstocks such as plant waste and municipal solid waste.

By Prime Minister's Office, Government of India - This file or its source was published by Press Information Bureau on behalf of Prime Minister's Office, Government of India under the ID 53989 and CNR 56765. (direct link)This tag does not indicate the copyright status of the attached work. A normal copyright tag is still required. See Commons:Licensing for more information.Shri Narendra Modi sworn in as Prime Minister, GODL-India, https://commons.wikimedia.org/w/index.php?curid=33011003