With govt. initiatives and a strict need to control greenhouse gases' emission, the biofuel industry is all set to boom in India.
As per a recent report "Indian Biofuel Industry", it has been found that the primary objectives of Indian govt. for the biofuel industry include cutting down the emission rate of greenhouse gases, and maintaining the diversity and security of energy supplies in the country. These are also the key drivers stimulating the growth of the biofuel industry in India.
Drawing the attention of both entrepreneurs and policy makers over the past few years, Biofuel is increasingly becoming the most preferred and cleanest source of energy among emerging economies such as India - a country that despite struggling to feed its hulking population is investing in biofuels' production. India is the sixth largest energy consumer in the world and its demand for energy is growing at a rate of 4.8% annually.
"We are subsidizing the farmer 100 percent for growing" crops of oilseed for the production of biodiesel over the last three years, as told by Raghuveera Reddy, agriculture minister for Indian state Andhra Pradesh to the Reuters at World Agricultural Forum in Saint Louis. THE ECONOMIC TIMES reported this on May 10, 2007. The govt. is pushing the cultivation of biofuels crops since it will improve the incomes of farmers, bring employment for rural youth, and reduce the effect of greenhouse gases, he said.
Biofuels & RE sector will likely play a vital "development bloc" for the country. Key drivers for the demand of RE (Renewable Energy) in India include untapped potential of power generation, a huge gap between the demand and supply in Indian power sector and a strict need for strengthening the energy security in the country, and last but not the least reducing the dependence of India on international sources of fuel. Also, govt. has plans to electrify the rural India that targets around 100,000 villages.
RNCOS report on "Indian Biofuel Industry" notifies, "India is amongst the fastest growing energy consumers in the world. The country has vast source of wasteland (that is approximately 50 Million Hectares of the degraded wasteland), which may be used for producing raw material for biofuels. With so much of land, India can definitely produce biofuels that may help in reducing a huge part of its oil imports."
This report helps clients in analyzing the opportunities critical to the growth of the Biofuels industry in India. The key issues and facts covered in this report include: market forces driving the industry & challenges faced by it, future of Biofuels industry in India, Biofuels demand scenario in India in 2010, and so on.
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