India's annual diesel consumption to rise by 2030, says Dharmendra Pradhan

Union Petroleum Minister Dharmendra Pradhan on Wednesday said India's annual diesel consumption could rise to 150 billion litres by 2030 from 90 billion litres.

While addressing a workshop on New National Policy on Bio-fuels and Pradhan Mantri Ji-Van Yojana, Pradhan said "Annual gasoline consumption in the world's third-biggest oil consuming nation (India) could rise to 50 billion litres by 2030 from 30 billion litres now. Also, the country's nascent bio-fuel industry has the potential to develop into a flourishing Rs. 1 lakh crore market in the coming years".

Further, speaking on bio fuels, Pradhan said, "The nation, which is looking to cut its oil imports by 10 percent in 2022, aims to boost use of bio fuels. Also, India currently imports about 80 percent of its oil needs."

"1-G and 2-G ethanol, bio-diesel, MSW (municipal solid waste) to fuel and bio-CNG together with methanol (DME) have huge potential in augmenting economic growth, generating employment and doubling farmers' income," he said.

During the workshop, many constructive suggestions related to feedstock management, technology, capacity augmentation, fiscal incentives and supply chain management were discussed and talked about.