BIS developing standard on paraffinic green diesel
Bureau of Indian Standards (BIS) on Monday said it has developed as many as nine standards on biofuels, and is in the process of developing a standard on paraffinic (green) diesel.
Bureau of Indian Standards (BIS) on Monday said it has developed as many as nine standards on biofuels, and is in the process of developing a standard on paraffinic (green) diesel.
BIS Director General Pramod Kumar Tiwari said, these standards will significantly complement the objectives of Global Biofuel Alliance (GBA), the multilateral forum announced by Prime Minister Narendra Modi during the G20 leaders' summit held recently in the national capital.
"We are committed to support this path breaking initiative of the government through development of relevant Indian Standards and necessary quality parameters/performance specifications," he said in a statement.
He said development of standard on paraffinic (green) diesel, that is derived from second generation (2G) feedstock, is also under progress.
BIS is a national standards body of India that works under the aegis of the Food and Consumer Affairs Ministry.
According to the BIS, the USA, Brazil, and India are the major producers and consumers of biofuels. These three countries collectively contribute 85 per cent production and 81 per cent consumption of ethanol globally.
The global ethanol market was valued at USD 99 billion in 2022 and is expected to grow at a compounded annual growth rate of 5 per cent by 2032, creating a huge opportunity for Indian industries and contributing to farmers' income, job creation and overall development of the Indian ecosystem, it said.
Currently, about 98 per cent of the fuel requirement in India for the transportation sector is met by fossil fuels and the remaining 2 per cent by biofuels.
Indian Oil Manufacturing Companies (OMCs) are working towards provisioning new distilleries for production of first generation (1G) and 2G ethanol and Indian vehicle manufacturers are developing engines compliant with ethanol blended fuel.
The government has also started an interest subvention scheme for molasses and grain-based distilleries to promote ethanol production.
It is also foreseen that flex fuel vehicles, which are capable of utilising ethanol-blended gasoline up to 85 per cent, that are already operational in the USA and Brazil, are soon to make an entry in India, the BIS added.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SBI 444-day FD vs PNB 400-day FD: Here's what general and senior citizens will get in maturity on Rs 3.5 lakh and 7 lakh investments in special FDs?
Small SIP, Big Impact: Rs 1,111 monthly SIP for 40 years, Rs 11,111 for 20 years or Rs 22,222 for 10 years, which do you think works best?
06:28 PM IST