India currently consumes only one-third of the global average consumption of energy. About 84% of India’s crude oil and 56% of natural gas are imported.
As we move towards more robust energy consumption figures, the country faces the following major challenges:
The components of the biofuels supply chain create a circular rural economy that results in substantial, environmental, socio-economic and health benefits for communities. A total of Rs 1 lakh crore worth of biofuel will be purchased by OMCs every year in the near future for blending and this money will be ploughed back to the rural economy, thus doubling farmers’ income. In the above context, biofuels have become a tool for achieving these delicate balances of outcomes.