In India, Prime Minister Narendra Modi celebrated World Biofuel Day 2018 on Friday with the announcement that India will achieve 10% ethanol blending in petrol by 2022 and double it to 20% by 2030 as part of its new National Biofuel Policy. Modi also said that 12 new biofuel refineries will be established across the country and that 175 bio-CNG plants have already been set up in India.
He said India’s biofuel production will triple and that “now we will produce 450 crore litre of ethanol in next four years from existing 141 crore litre. It will result in import savings of Rs 12,000 crore,” according to India TV News.
India meets more than 80 per cent of its oil needs through imports but is aiming to decrease oil imports to save the country about Rs 120 billion ($1.74 billion) with the increased use of biofuels.