Gautam Buddha Nagar (Uttar Pradesh): Prime Minister Narendra Modi on Saturday said that ethanol blending in petrol has helped India reduce its dependence on imported crude oil, ANI reported.
Speaking at the inauguration of Phase I of the Noida International Airport, he thanked sugarcane farmers for contributing to the achievement of 20% ethanol blending in petrol.
He said that ethanol produced from farmers’ crops has helped the country cut down on crude oil imports. Without blending, India would have had to import about 4.5 crore barrels, or nearly 700 crore litres, of crude oil. He added that the savings have benefited the country while also supporting farmers’ incomes.
The remarks come at a time when global crude oil prices remain high due to tensions in West Asia. India has already achieved its target of 20% ethanol blending ahead of schedule.
Referring to the ongoing conflict involving the United States, Israel and Iran, the Prime Minister said rising global prices of fuel, food and fertilisers are affecting many countries, including India.
He said the government is taking steps to ensure that the impact of the crisis does not burden citizens, noting that India imports a large share of its crude oil from the affected region.
