India is actively pursuing a strategy to reduce its reliance on crude oil imports through the adoption of advanced ethanol mixing technologies employed by Brazil, reported Money Control.
This cooperative effort also encompasses a substantial increase in bilateral trade, with both nations setting their sights on a target of $50 billion by the year 2030, a significant leap from the current $15.2 billion trade volume.
Commerce Secretary Sunil Barthwal during the release of trade data on October 13 said, “Ethanol and bio-fuel blending is an important area of cooperation where we feel Brazil and India can learn from each other. In fact, Brazil has very advanced technologies available on ethanol mixing with petrol and diesel, which will help us reduce our dependence on crude, petroleum imports.”
Recently, Brazil has joined Global Biofuels Alliance as a , to facilitate the adoption of biofuels through the cooperation of governments, international organizations, and industry.
