India is well-suited to develop biofuel resources, says Maruti Suzuki Chairman RC Bhargava

Maruti Suzuki Chairman RC Bhargava, in an exclusive interaction with Business Today, said that India is indeed well-suited to develop biofuel resources. 

“We have a large agricultural population, which means that we have a lot of biomass available. We also have a lot of land that is not suitable for agriculture, which could be used to grow crops for biofuel production,” he said.

Biofuels are a renewable energy source that can help to reduce our reliance on fossil fuels. They also have the potential to create jobs and boost rural economies.

Bhargava thinks that it is important for countries to work together to address common challenges, such as climate change and the need for clean energy. The G20 is a forum where countries can come together to discuss these issues and develop solutions.

“By sharing resources and collaborating on research and development, countries can make more progress than they could on their own,” he added.

Bhargava further said that the India-Middle East-Europe Economic Corridor (IMEC), a proposed trade corridor that would connect India to the Middle East and Europe, would be a major boost for the automobile sector, as it would create new markets for Indian vehicles and components.

On supply chain resilience around the G20 Summit, Bhargava said that India is certainly moving in the right direction when it comes to becoming a part of the global supply chains. The auto component industry has made tremendous strides over the last few years, and India is now a major exporter of auto components.

The measures that have been accepted in the G20 are all directed towards making it possible for countries like India to participate to a much larger extent in strengthening the global supply chains. “This is a positive development for India, as it will help to create jobs and boost economic growth,” he added.

On Maruti Suzuki developing ethanol and electric vehicles in future, RC Bhargava said all of the technologies discussed at the G20 are of great relevance to India. The country is committed to reducing its carbon footprint, and these technologies can help to achieve that goal.

One of the most important technologies is electric vehicles (EVs). EVs produce zero emissions, which makes them a much cleaner option than gasoline-powered vehicles. The Indian government has set a target of having 30% of all new vehicles sold in India be electric by 2030.

Another important technology is biofuels. Biofuels are made from renewable resources, such as crops and agricultural waste. They produce fewer emissions than gasoline, and they can help to reduce India's reliance on imported oil.

The G20 also discussed the development of hydrogen fuel cells. Hydrogen fuel cells are a promising new technology that could potentially produce zero emissions. However, the technology is still in its early stages of development.

“I think what has been happening in India and what will go forward now is a result of the G20 is that other fuels will also get equal importance and if we combine the effect of all these fuels I think the carbon footprint reduction will become a reality in India path quicker than anybody expects," Bhargava told Business Today.

On the importance of green financing in future, he said, “Green financing is something that companies like Maruti Suzuki need to look at closely, as it could have implications for their business. The company is already keen on biofuels, and it is likely to continue to invest in this area.”

On technology transfer between countries, Bhargava mentioned India should explore all possible sources of fuel and not only depend on one technology, one particular fuel for reaching the goals of carbon neutrality and of providing affordable transport to all sections of the people.

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