By 2025, 20 percent ethanol blending in petrol will save foreign exchange of Rs 1 lakh crore: Amit Shah

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If India achieves the target of 20 percent blending of ethanol with petrol by 2025, then the country will save foreign exchange equivalent to about one lakh crore rupees. Union Home Minister Amit Shah gave this information on Wednesday.

Shah said that in June 2021, the Narendra Modi government had set a target of achieving 10 per cent ethanol blending in petrol by November 2022, which was achieved five months ago. He said this after laying the foundation stone of KRIBHCO’s bioethanol plant at Hazira on the outskirts of Surat city.

The Cooperation Minister said that by achieving this target early, the government has reduced the deadline for achieving the target of 20 percent ethanol blending by five years to 2025.

Shah said, “Ethanol production is going to change the entire economy of the petroleum sector in the coming days. Achieving the target of 20 per cent ethanol blending will result in foreign exchange savings of about Rs 1 lakh crore by 2025. Production has increased from 172 million tonnes in 2011-12 to 212 million tonnes in 2021-22.

He said that efforts are being made for this all over the world, India has prepared a systematic and scientific ethanol policy to achieve this.

Shah said, “Despite these efforts, the US produces 55 per cent ethanol, Brazil 27 per cent and India three per cent. What I mean to say is that there is a lot of potential in this sector, which cooperatives should tap, as Kribhco has done. Co-operative units will have to come forward to increase the income of the farmers.” Shah said, “In a way, the 10 per cent blending achieved five months before the target of November, 2022 has reduced crude oil imports to the tune of Rs 46,000 crore. He said that bioethanol is made from cereals, molasses, plants and with 10 percent blending, 2.7 million tonnes of carbon emissions have been reduced.

“The day the government achieves the target of 20 per cent blending, these figures will double,” the minister said.

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