India Launches Global Biofuels Alliance to Revolutionize Energy Sector

New Delhi, September 8, 2023 – India is poised to lead a groundbreaking initiative in the world of biofuels as it launches the Global Biofuels Alliance (GBA). This move, spearheaded by Prime Minister Narendra Modi, is set to redefine global energy dynamics, reducing dependence on traditional fuels like petrol and diesel.

Hardeep Singh Puri, India’s Minister of Petroleum & Natural Gas and Housing & Urban Affairs, announced the country’s commitment to this initiative. He emphasized that GBA will not only reshape the global energy landscape but also benefit Indian farmers by providing them with an additional source of income, transforming them from ‘Annadatas to Urjadatas’ (food providers to energy providers).

Prime Minister Narendra Modi introduced GBA during the recent G20 Summit, marking a historic milestone in the global energy sector. Nineteen countries and twelve international organizations have already pledged their support and participation in this alliance.

GBA is an India-led initiative designed to create a coalition of governments, international organizations, and industry leaders committed to advancing the adoption of biofuels. By uniting major consumers and producers of biofuels, the alliance aims to accelerate the development and deployment of biofuels, positioning them as a key component of the global energy transition. This effort is expected to generate jobs and foster economic growth.

Hardeep Singh Puri expressed his gratitude to key figures, including Jennifer Granholm, the US Secretary of Energy; Alexandre Silveira, the Energy Minister of Brazil; and Dr. Evandro Gussi, President & CEO of UNICA Brazil, for their pivotal roles in the formation of the Global Biofuels Alliance.

The visionary GBA, supported by G20 nations and global energy-related organizations such as the International Energy Agency (IEA), International Civil Aviation Organization (ICAO), World Economic Forum (WEO), and World LPG Association, among others, is set to strengthen global biofuels trade and best practices. This initiative will empower farmers and contribute significantly to India’s energy security.

The implementation of E20 by 2025 is expected to save India approximately ₹45,000 crore in oil imports and reduce oil consumption by 63 million tonnes annually. GBA will support the worldwide development and deployment of sustainable biofuels, offer technical support, and promote policy sharing to incentivize biofuels adoption and trade.

This initiative holds numerous benefits for India, strengthening its global position, boosting collaboration, and creating opportunities for Indian industries in technology and equipment exports. Additionally, it will accelerate existing Indian biofuels programs, such as PM-JIVAN Yojna, SATAT, and GOBARdhan scheme, leading to increased farmers’ income, job creation, and overall ecosystem development.

With the global ethanol market expected to grow significantly by 2032 and substantial growth potential in biofuels by 2050 due to Net Zero targets, India is poised to seize tremendous opportunities in the evolving energy landscape.