New Delhi: Brazil and India are working on deepening energy ties, particularly in biofuels and ethanol, reports Live Mint.
Taking a step forward in this direction, Brazil’s mines and energy minister Alexander Silveira is likely to visit India later this year, said people close to the development.
Brazil is one of the world’s top ethanol producers and experts in using ethanol as fuel for vehicles and is working on expanding its cooperation with India which has set a target of 20% ethanol blending by 2025.
Andre Aranha de Lago, former Brazilian ambassador to India, said, “India is one of the largest producers of cars in the world and the target of 20% ethanol blending by 2025 has already created a large market for ethanol in the country. If Brazil and India work together in this sector then it is possible to commoditization of ethanol globally.”
India is working with Brazil to reduce its reliance on OPEC suppliers and as a part of it, IOCL has in September 2022 signed an agreement with Brazilian oil major Petrobras for 1.7 million metric tonnes per annum.
