G20 Summit Discussion on India Leading the Global Biofuels Alliance

Hardeep Singh Puri, Minister of Petroleum and Natural Gas and Housing and Urban Affairs, shared an exciting development on social media. He expressed that India is set to pave a new path in biofuels through the establishment of the Global Biofuels Alliance (GBA), an initiative born out of India's G20 presidency. This move is poised to bolster India's global standing.

Reducing Global Reliance on Petrol and Diesel:

Puri highlighted that the GBA is a significant step towards reducing the world's dependency on petrol and diesel. Prime Minister Narendra Modi officially announced the launch of the GBA during the G20 Summit in New Delhi. A noteworthy 19 countries and 12 international organizations have already committed to joining this alliance. Leaders from various nations were present to support this groundbreaking initiative.

Empowering Biofuels Adoption:

The GBA, led by India, aims to facilitate the widespread adoption of biofuels. Puri emphasized that this visionary alliance, backed by G20 Nations and prominent global energy organizations like the International Energy Agency (IEA), International Civil Aviation Organization (ICAO),

World Economic Forum (WEF), and World LPG Association, will fortify global biofuels trade and promote best practices. This, in turn, will equip members to effectively address the challenges posed by the Energy Quadrilemma.

E20 by 2025: A Game Changer for India:

Puri revealed that with the planned implementation of E20 fuel (a blend of 20% ethanol and the remaining fossil-based fuel) by 2025, India is poised to save a staggering ₹45,000 crore in oil imports and reduce oil consumption by a substantial 63 million tonnes annually. The government's decision to accelerate the target for E20 fuel from 2030 to 2025 demonstrates its commitment to sustainable energy solutions.

Tapping into a Booming Market:

The global ethanol market, valued at USD 99.06 billion in 2022, is projected to grow at an impressive CAGR of 5.1% by 2032, surpassing USD 162.12 billion. The International Energy Agency (IEA) predicts a 3.5-5 times growth potential in biofuels by 2050, driven by ambitious Net Zero targets. This presents a tremendous opportunity for India to lead the way in sustainable energy.

India's stride in biofuels through the GBA not only marks a significant environmental milestone but also positions the nation as a global leader in sustainable energy solutions.