Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, highlighted India’s success in the biofuel sector and addressed concerns about food security while sharing insights into the country’s efforts to diversify its oil supply sources amid global challenges.

Puri mentioned that India initiated the Global Biofuels Alliance during its G20 presidency, which has now grown to include 19 countries. He emphasized India’s commitment to achieving a 20% ethanol blending target by the end of 2025 and the government’s focus on boosting investment in the CBG – Satat scheme, aiming for 5,000 plants by 2030.

Regarding the impact of the Ukraine war on India’s oil supply choices and costs, Puri stated that the country has diversified its sources of oil supply to ensure availability, affordability, and sustainability. He also noted that the government has reduced excise and state taxes to lower prices and is actively exploring alternative energy sources like green hydrogen.

Puri’s comments aligned with a recent International Energy Agency report, which highlighted India’s potential to become a global biofuels leader, producing 120 billion liters of biofuels annually by 2030. These efforts are expected to create jobs and reduce greenhouse gas emissions.

India’s commitment to biofuels is part of a broader strategy to develop a sustainable and secure energy future, including investments in renewable energy sources like solar and wind power, along with efforts to improve energy efficiency. Puri emphasized that India is taking significant steps to diversify its energy mix, reduce oil dependence, and promote clean energy sources for long-term energy security and sustainability.