Mumbai: Sugar industry experts are bullish on India’s ethanol sector. They believe 20 per cent ethanol blending target will be achieved ahead of schedule.
In an interview with ET Now, Aditya Jhunjhunwala, president of ISMA, said, “Industry is confident of achieving 20 per cent ethanol blending target ahead of the set time. ISMA has urged the government to focus on Flexi-fuel vehicles that would enhance the use of ethanol. There is much more to work on demand side. 100 lakh tonnes of surplus sugar needs to be diverted for ethanol.”
Atul Chaturvedi, Executive Chairman, Shree Renuka Sugars said that the company’s revenue from ethanol has increased from 10% to 40%. Ethanol production has helped to lower the inventory and interest burdens. Also, the cash flows of sugar companies have improved.
