Nitin Gadkari Urges Biofuel Adoption To Slash ₹2.2 Lakh Crore Fuel Imports, Aid Farmers

Nitin Gadkari Urges Biofuel Adoption To Slash ₹2.2 Lakh Crore Fuel Imports, Aid Farmers

Business Today
Business Today
  • New Delhi ,
  • Sep 2, 2024,
  • Updated Sep 2, 2024, 6:02 PM IST

 

Speaking at the IFGE India Bio-energy and Tech Expo, Minister of Road Transport and Highways, Nitin Gadkari, emphasized the economic and environmental challenges posed by India's heavy reliance on fossil fuels. He revealed that the country spends ₹2.2 lakh crore annually on fossil fuel imports, a significant economic burden that also contributes to severe air pollution. Gadkari expressed confidence that promoting biofuels could substantially reduce these imports and benefit India's agriculture sector, which currently contributes 12% to the GDP but supports over 65% of the population. He stressed that biofuel development is crucial for achieving the government’s vision of a $5 trillion economy and making India a global economic powerhouse. Gadkari acknowledged the transportation sector's role in producing 330 million metric tons of CO2 annually, urging his ministry to lead efforts in reducing this environmental impact by embracing bio-energy solutions.

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