India has achieved its target of 12 per cent ethanol blending with petrol for the current ethanol supply year, which concludes in October 2023, according to Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, reported The Hindu Businessline.
In the Ethanol Supply Year 2022–23 (December 2022–October 2023), the government had set a target of achieving a 12 per cent ethanol blending with petrol. The target for the next year, Ethanol Supply Year 2023–24 (November 2023–October 2024), has been set at 15 per cent.
While launching reference fuels produced by the State-run Indian Oil Corporation (IOC), Minister Puri stated, “(Oil) Secretary Pankaj Jain told me that we have already done 12 per cent this month, which was our target, and we are well towards reaching our target of 20 per cent biofuel blending by the calendar year 2025.”
Minister Puri emphasized that, apart from interest in producing ethanol from sugar-based producers, the maize industry is equally keen. He stated, “I think the rate of maize usage is so high that it is impressive. Today, meeting biofuel blending targets is not a cause for concern. By the end of the calendar year 2025, achieving 20 per cent blending will be easily accomplished.”
Recently, Oil Marketing Companies (OMCs) had invited bids for supply of around 825 crore litres of Denatured Anhydrous Ethanol for ESY 2023-24. This will help to boost the ethanol production in country.
The Indian government is leaving no stone unturned to boost ethanol production to ensure it achieves a 20 percent ethanol blending target by 2025. The government has announced various initiatives and measures to encourage biofuel production.
In last few years, India has actively promoted ethanol production, yielding substantial benefits for the country. By blending ethanol into petrol, India has saved billions of rupees in foreign exchange. The industry in India has been persistently urging for an increase in ethanol prices, and it may soon see an upward revision.
