India is set to pave the way for a new era in sustainable energy through the Global Biofuels Alliance (GBA), as announced by Shri Hardeep Singh Puri, Minister of Petroleum & Natural Gas and Housing & Urban Affairs. In a series of social media posts, the Minister highlighted Prime Minister Shri Narendra Modi’s commitment to reduce global dependence on petrol and diesel, marking a historic milestone in the world of energy transition.

The GBA, launched by Prime Minister Modi on the sidelines of the G20 Summit, is an India-led initiative aimed at uniting governments, international organizations, and industries to promote the adoption of biofuels. A total of 19 countries and 12 international organizations have already pledged to join this transformative alliance.

Minister Hardeep Puri emphasized that this visionary effort will propel the world towards cleaner and greener energy sources, aligning with the principles of ‘Vasudhaiva Kutumbakam,’ or ‘the world is one family.’ The GBA seeks to position biofuels as a crucial element in the global energy transition while simultaneously contributing to job creation and economic growth.

Expressing his gratitude to key contributors, including Ms. Jennifer Granholm, Secretary of the US Department of Energy, Mr. Alexandre Silveira, Energy Minister of Brazil, and Dr. Evandro Gussi, President & CEO of UNICA Brazil, Minister Puri underscored the historic momentum the quest for cleaner and greener energy has gained with the GBA’s launch.

The GBA, supported by G20 nations and global energy-related organizations such as the International Energy Agency (IEA), International Civil Aviation Organization (ICAO), World Economic Forum (WEO), and World LPG Association, aims to strengthen global biofuels trade and best practices. It will empower nations to address the Energy Quadrilemma successfully.

Minister Puri highlighted the transformative potential of the GBA for India, including the transformation of farmers from ‘Annadatas to Urjadatas’ by providing an additional source of income. He also revealed that India has allocated ₹71,600 crore to its farmers over the past nine years. Implementation of E20 by 2025 is projected to save India approximately ₹45,000 crore in oil imports annually, reducing oil consumption by 63 million tonnes.

The GBA will offer capacity-building exercises, technical support for national programs, and policy lessons-sharing to promote the development and deployment of sustainable biofuels worldwide. It will facilitate the creation of a virtual marketplace to map demand and supply, connect technology providers with end users, and establish internationally recognized standards, codes, sustainability principles, and regulations to incentivize biofuels adoption and trade.

For India, the GBA presents multiple opportunities, including strengthening its global position, expanding collaboration, and exporting technology and equipment. It will accelerate existing biofuels programs like PM-JIVAN Yojna, SATAT, and GOBARdhan, contributing to increased farmers’ income, job creation, and overall ecosystem development.

As per the International Energy Agency (IEA), there is 3.5-5 times growth potential in biofuels by 2050 due to Net Zero targets, creating a substantial opportunity for India. The global ethanol market, valued at USD 99.06 billion in 2022, is predicted to exceed USD 162.12 billion by 2032, with a compound annual growth rate of 5.1%.

The launch of the Global Biofuels Alliance signifies India’s commitment to pioneering sustainable energy solutions on a global scale, marking a pivotal moment in the journey towards a cleaner and greener future.