India achieved target of 10% ethanol blending ahead of schedule, says PM Modi
On occasion of India's Independence Day celebrations, Prime Minister Narendra Modi declared that India, the world's third biggest oil importing and consuming nation, has attained the goal of 10 per cent ethanol blending ahead of schedule.
The aim to supply petrol mixed with 10 per cent ethanol was achieved in June ahead of the schedule of November 2022. This early success encouraged the government and due to this, it moved the target of making petrol with 20 per cent ethanol to 2025. According to a PTI report, the Prime Minister last week said that the blending of ethanol in petrol has resulted in saving ₹50,000 crore of foreign exchange along with a reduction in carbon emissions. This move also gave farmers an alternate source of income as ethanol is made from sugarcane extract, grains and farm wastes.
Modi stated on being a more self-sufficient country by achieving energy independence. “From solar energy to Mission Hydrogen to adoption to EVs, we need to take these initiatives to the next level for energy independence," he was quoted as in the report.
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India is the fifth largest manufacturer of ethanol following the US, Brazil, EU and China. Though ethanol is widely used for consumption, nations like Brazil and India also mix it in petrol. With the next milestone that is to attain 20 per cent ethanol blending in petrol, it is being estimated that when this is achieved, India will save an estimated $4 billion annually. According to the oil ministry, two million tonnes of crude oil have been substituted due to the blending of ethanol in petrol during the first three and half months of the current fiscal year that began in April.