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Modi: Ethanol Powers India Past Oil Woes
8 Apr
Summary
- Ethanol blending helped India avoid importing 45 million barrels of crude.
- Prime Minister Modi highlighted farmer contributions to foreign exchange savings.
- The announcement was made during the inauguration of Noida International Airport.
Amidst a surge in crude oil prices to USD115 per barrel, influenced by the US-Israel-Iran conflict, Prime Minister Narendra Modi delivered a message of reassurance from Uttar Pradesh. During the inauguration of the Noida International Airport at Jewar, he emphasized the significant role of ethanol blending in India's energy strategy.
Modi stated that ethanol blending initiatives have enabled India to circumvent the import of approximately 45 million barrels of crude oil. He specifically lauded the contributions of farmers, highlighting their pivotal role in conserving the country's foreign exchange reserves. This focus on domestic energy solutions underscores India's commitment to self-reliance and economic stability.
