Ethanol blending is a trillion Dollar investment opportunity: Hardeep Singh Puri
Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri in an exclusive interaction with ET Energyworld, discusses India’s remarkable achievements during its G20 presidency, groundbreaking
projects such as the Global Biofuels Alliance and the India-Middle East-Europe Economic Corridor, and outlines the nation’s robust plans for energy sector growth. Minister Puri sheds light on India’s biofuel success, dispels concerns about food security, and shares insights into how India is diversifying its oil supply sources amidst global challenges.
Edited excerpts:
What are the ways in which India has successfully used the opportunity of G20 presidency to get forward movement on its energy sector imperatives?
First and foremost, the G20 presidency was a resounding success. India acted as a unifier in a divided world and achieved success in raising expectations on various issues, including terrorism and urban resilience. The 83 paragraph declaration addressed a wide range of topics, and international organizations and stakeholders will take these forward. The G20’s success reaffirmed its role as an economic forum, and we navigated through difficult issues. Everyone, from African ministers to the Chinese government and UN agencies, praised the G20’s success.
Additionally, during India’s G20 presidency, we launched the Global Biofuels Alliance, which now has 19 countries and international organizations on board. We also initiated discussions on the India-Middle East-Europe Economic Corridor, promoting connectivity and economic growth.
Can you provide more details about Global Biofuels Alliance and the India-Middle East-Europe Economic Corridor projects?
The Global Biofuels Alliance is a significant initiative. Biofuels are not just the future; they are already a reality. India has made remarkable progress in biofuel blending, with plans to reach 20% blending by 2025. This represents a trillion-dollar opportunity. Industry associations are excited, and the shares of biofuel-related companies are surging.
