Biodiesel: The Next Big Renewable Story
New Delhi: As the world grapples with environmental challenges and energy security concerns, India's Biodiesel sector is stepping up to provide greener and more sustainable alternatives. This Industry has witnessed unprecedented growth and is on path to create a milestone in India’s pursuit of reducing its dependency on imported fossil fuels.
While the industry has made noteworthy progress, it is imperative for all stakeholders, to collaborate to ensure that it continues to grow and thrive.
Shri Sidhartha Mitra, GM (Biofuels) of Indian Oil Corporation says, “We are committed to increase Biodiesel blends in the country and have overcome many challenges and this can be seen because the Oil Companies have recently published a one year Expression of Interest (EOI) for purchase of 165 crore litres of Biodiesel and this number will only grow. Under the guidance of the Ministry of Petroleum and Natural Gas, we are geared up to increase blending levels to assist in achieving our Country’s commitment of Net Zero emissions by 2070”
This industry commenced with about 11 units and is expected to touch 100 units across the country. Notable established manufacturers in the country like Universal Biofuels in the South region, Monopoly Innovations in Western Region, BioD Energy and Kotyark Industries in Northern Region, Emami Agrotech in Eastern Region, have given a major impetus due to the ever-growing opportunity it presents.
During the General Body Meeting coinciding with the Industry Prebid Meeting of the One Year Biodiesel EOI, held on 21st September 2023, in New Delhi, Dr. Akhilesh Sarraf, President of the Biodiesel Manufacturers Association of India said “Biodiesel has a potential to replace 1650 crore litres of conventional diesel in near future which will lead to an import saving of more than Rs. 49,500 crores every year and reduction of 3.27 crores metric tonnes of carbon dioxide emissions per year. The industry has numerous socio-economic benefits like encouraging entrepreneurship through the Make in India programme, increasing farmer income, greening wastelands, reduction of carbon emissions and many others.”
As the Biodiesel Industry in India flourishes, it not only contributes to a greener environment but also bolsters the Nation's energy security.
The Biodiesel industry's growth is a testament to India's commitment to a sustainable future, echoing the global call for a cleaner and more sustainable world.
