India to Save Rs. 91,000 Crore with Biofuel Blending, Agriculture Benefits

Bengaluru: Union Minister Hardeep Singh Puri inaugurated the 27th Energy Technology Summit in Bengaluru on Tuesday, marking a significant milestone in India's transition to green energy. Through biofuel blending, the country has achieved the second position globally in this area and stands to save Rs. 91,000 crore on its import bill.

The Minister expressed confidence that by next year, India will exceed its target of 20 percent biofuel blending, far ahead of schedule. As refineries shift towards green energy, Puri hinted at the country's success in achieving the goal for green hydrogen.

Indias energy demand is expected to grow by two and a half times by 2047, according to Puri. The nation has already reached a crude oil refining capacity of 400-450 million metric tons per annum – roughly one-third of the global average.

However, meeting India's net carbon zero emission target by 2070 will require increased efforts from the country. Energy security, sustainability, and technological innovation must be balanced to achieve these ambitious targets in the energy sector, according to Puri.

The three-day Energy Technology Meet has been organized by the Centre for High Technology in collaboration with Indian Oil Corporation Limited.