India's Global Biofuels  Alliance: A Game-Changer, :Union Minister Hardeep Puri

India has launched the Global Biofuels Alliance (GBA), an initiative to promote the adoption of biofuels around the world. The alliance is backed by the G20 countries and energy-related international organizations, and has already been joined by 19 countries and 12 international organizations.

Union Minister of Petroleum and Natural Gas and Housing and Urban Affairs Hardeep Singh Puri said that the GBA will help India to lead the world on a new biofuels path and improve its position globally. He also said that the alliance will help to reduce the world's dependence on petrol and diesel.

The GBA aims to strengthen global trade in biofuels and promote best practices. It will also work to address the "Energy Quadrilemma," which refers to the challenges of ensuring energy security, affordability, sustainability, and equity.

India is a major producer of biofuels, and the government has set a target of blending 20% ethanol with petrol by 2025. The GBA will help India to achieve this target and to become a global leader in the biofuels industry.

India Leads the Way in Biofuels with Global Alliance

In a groundbreaking development, Union Minister Mr. Hardeep Singh Puri has emphasized India's pivotal role in reshaping the global energy landscape through the Global Biofuels Alliance (GBA). This initiative, launched during the G20 Summit, is poised to significantly enhance India's international influence and reduce the world's reliance on conventional fossil fuels.

India's Vision for a Biofuels-Driven Future

During the G20 Summit held in New Delhi, Prime Minister Mr. Narendra Modi unveiled the ambitious Global Biofuels Alliance, marking India's unwavering commitment to sustainable energy solutions.

With the participation of 12 international organizations and 19 countries, including influential leaders from Singapore, Bangladesh, Italy, the US, Brazil, Argentina, Mauritius, and the UAE, the GBA aims to spearhead a global biofuels revolution.

Global Biofuels Alliance: A Catalyst for Change

Mr. Hardeep Singh Puri underscores the transformative potential of the Global Biofuels Alliance, which boasts support from G20 nations and prominent energy-related international organizations such as the International Energy Agency (IEA), International Civil Aviation Organisation (ICAO), World Economic Forum (WEF), and World LPG Association, among others. This alliance will not only facilitate robust global biofuels trade but also promote best practices, enabling member nations to effectively address the Energy Quadrilemma.

E20 Fuel: A Paradigm Shift in Energy

India's strategic shift towards biofuels is exemplified by the introduction of E20 fuel, a blend comprising 80% fossil-based fuel and 20% ethanol. This eco-friendly alternative is expected to save India approximately Rs. 45,000 crore (US$ 5.43 billion) and 63 million tonnes (MT) of oil annually if fully implemented by 2025. The government's accelerated timeline has brought the widespread availability of E20 fuel closer, now anticipated within two years.

The Economic Impact of Biofuels in India

The global market for ethanol, a key component of biofuels, surged to an estimated worth of US$ 99.06 billion in 2022. Forecasts indicate that it will continue to grow substantially, reaching US$ 162.12 billion by 2032, with a compound annual growth rate (CAGR) of 5.1%. Notably, the International Energy Agency (IEA) anticipates that India has a golden opportunity to expand its biofuel industry by 3.5-5 times by 2050, thanks to the growing emphasis on achieving Net Zero targets.

Here are some additional details about the GBA:

• The alliance will focus on promoting the use of sustainable biofuels, such as ethanol and biodiesel.

• It will also work to develop new biofuel technologies and to improve the efficiency of biofuel production.

• The GBA will provide a platform for countries and organizations to share information and best practices on biofuels.

• It will also help to raise awareness of the benefits of biofuels and to promote their use around the world.

In conclusion, India's leadership in the Global Biofuels Alliance is poised to redefine the global energy landscape. This visionary initiative, coupled with the accelerated adoption of E20 fuel, positions India at the forefront of renewable energy solutions and strengthens its influence on the world stage.