Indian Sugar Mills Association (ISMA) and Toyota Kirloskar Motor have signed a Memorandum of Understanding (MoU) to spread awareness about the use of ethanol as a sustainable biofuel in India, reports Financial Express.
ISMA is playing a major role in the production of ethanol and ensuring its availability in the country. The MoU will help both TKM and ISMA to work together to adopt ethanol as an indigenous alternate clean fuel that will help in achieving the nation’s goal to lower its dependency on fossil fuels.
An increase in the use of ethanol will increase the income of farmers as well as create new jobs that will boost the agrarian economy in the country.
India has set a target of 20% ethanol blending with petrol by 2025 and it is expected that by 2025-26, around 86 million barrels of gasoline will be replaced by 20% ethanol and help the country save Rs 30,000 crore in foreign exchange and reduce carbon emission by 10 million tonnes.
