India: Want to create local ethanol economy of Rs 2 lakh crore, says Nitin Gadkari

To cut down the import dependency and reduce the levels of pollution in the country, Union Minister of Road Transport & Highways Nitin Gadkari on Friday advocated to capitalize on locally produced ethanol fuelIndia is spending close to Rs 7 lakh crore on the import of crude oil, he said, adding that it’s high time that the country should develop an import substitute, cost effective, pollution free and indigenous fuel option. According to Gadkari, India has robust back up of large sugarcane farms to support the production of ethanol feed stocks. The development of a substantial ethanol industry would potentially mean new markets for country’s biomass and agriculture and will also help in reviving the dried up farm income, he added.