India plans to reduce dependence on purchases of oil and fuel abroad by 10% in five years and to develop new policy of national biofuel production. The state minister of oil and gas Dkharmendra Pradkhan reported about it.
"80 percent of the fuel used in India for transport and home use are imported. It (in a year) costs us 6 trillion rupees ($93,7 billion). The prime minister Narendra Modi specified the purpose to reduce this dependence by 10% by 75th anniversary of independence in 2022", - TASS quotes words of Pradkhan addressing parliamentary fraction of party in office on the occasion of the International day of biodiesel.
He also noted that India soon intends to develop new policy in the field of biofuel production. "We in India soon will receive new policy in the field of biofuel which will answer questions how to invest in this industry, what will be a role of the government, what incentives and benefits will be", - Pradkhan added.