India Infoline News Service
New & Renewable Energy Minister Dr. Farooq Abdullah said viable price and indicative market are the two major drivers to the give a sustainable growth to Indian Biofuels sector.
Inaugurating the second Biofuels India Summit organised here by the Confederation of Indian Industry (CII) and the Department of Biotechnology, Ministry of Science & Technology), Dr. Abdullah said the National Policy on Biofuels envisaged ambitious targets which would certainly boost biofuels as an alternative energy source and thereby facilitate greater investment in the sector. This will also provide a roadmap for the Indian industry and the public sector to tap the full potential of this critical sector.
Appreciating the CII's work, he said that promotion of biofuels would go a long way in meeting the country's energy security needs and sustain the momentum of economic growth.
Dr Abdullah stressed that India's approach to biofuels is based solely on non-food feedstocks to be raised on degraded or wastelands that are not suited for agriculture, thus avoiding a possible conflict of fuel vs food security.
Brazil being the most critical country in this domain, the international experiences of APEX BRASIL would definitely of big help in formulation of developmental strategy ahead.
Pramod Chaudhuri, Chairman, CII National Committee on Biofuels and Chairman, Praj Industries Ltd, said the development of the biofuels sector requires a highly efficient and integrated supply chain backed up by a similarly concerted and integrated policy framework cutting across national and state boundaries. He also added that Biofuels policy should also introduce of flexing mandating, innovative approach to pricing, classification of biofuels as renewable energy status for biofuels.
Roberto Paranhos , President ,Brazil India Chamber of Commerce, Brazil said Brazil understands India’s energy security concerns and Brazil with his best ability and resources is ready to address the same. APEXBRAZIL would be happy to facilitate CII and Ministry in developing an “Investment Roadmap in Biofuels in India”. He has pointed to knowledge gap and the lack of understanding among investors and especially on the biodiesel front in India. He hoped the strategy paper would provide direction to policy makers.
Vikas Gadre, Member, CII National Committee on Biofuels and Head –Biofuel, Tata Chemical ltd has mentioned the biofuels sector should be given the critical importance in terms of energy security, climate change, and inclusive growth.
The CII is looking at various need-based projects and interventions on the lines of the 'Realistic cost of biodiesel in India' and “Estimation of Energy Balance & Carbon Footprint of Biofuels in India” he said.
Biofuels India 2009 Summit has brought together delegates from 10 countries, reflecting the global interest in this sector and the urge for cooperation in exchanging knowledge and experiences.
Participants included policy makers, senior Central and State Government officials, bankers and venture capitalists, representatives from biofuels, sugar, oil and
petroleum sectors, service providers, R&D institutions as also user segments relating to the auto industry.
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