The government committing to an investment of Rs 1,040.75 crore for bioenergy initiatives is highly encouraging for industry players. Such an investment combined with progressive reforms could translate to India actualizing biofuel production potential of 500 million tons by 2030.
We feel a lot of optimism regarding India’s leadership in the bioenergy sector. The Global Biofuels Alliance holds great promise for unlocking significant investment opportunities, fostering innovation and collaboration across public and private entities within the bioenergy sector. At G20 Brazil, India could continue emphasizing the sector’s potential to drive economic growth while reducing carbon emissions.
The bioenergy landscape, worldwide, is in a state of dynamic development and evolution, with the coming up of new technologies, raw materials and use cases. The time is ripe for feeding into this evolution, through planning short, medium and long-term strategies, engaging in knowledge exchange and developing supportive policy frameworks.