U.S. Ethanol Industry Praises India on Achieving Blending Target

The U.S. Grains Council, Growth Energy and the Renewable Fuels Association congratulated India for recently achieving its ethanol fuel blending target of 10 percent, five months ahead of schedule. The three groups issued the statement ahead of India's upcoming 2023 AutoExpo, one of Asia's largest automotive trade shows that's expected to welcome more than 115,000 visitors to New Delhi next week. The U.S. Grains Council, Growth Energy and RFA will all be on-site at the trade show.

"Ethanol presents an immediate solution to tackling two of the world's greatest modern challenges: it represents an efficient alternative to petrol without infrastructure change and is a preeminent solution to mitigating the impending climate crisis," the groups said. "When adopted through clear and long-term public policies, ethanol can also significantly contribute to the reduction of air pollution in urban centers leading to more positive public health outcomes.

"India's decision will provide economic benefits to domestic producers, facilitating new cycles of innovation and investment. By reducing dependencies, this forward-looking policy will equally allow the country to save up to $4 billion or 32,000 Crores every year in foreign exchange.

"We are delighted to be so warmly welcomed here in India at the AutoExpo 2023 and fully support India's bright and ambitious goal of transitioning toward higher blends. We look forward to working together with Indian businesses on the path toward net zero."

Prime Minister Narendra Modi announced in 2021 that India would attain net zero emissions by 2070, with ethanol set to play a prominent role in the country's reduced reliance on fossil fuels. India's transition toward renewables is further supported by a target of 20 percent ethanol blending by 2025, driving the country to use ethanol to fast-forward to a resilient and sustainable economy.

Source : Equity Bulls

Keywords

USGrainsCouncil Energy RenewableFuels Ethanol Blending India