India has more than 750 million metric tonnes of available biomass
The global bioenergy market is projected to grow to US$125 billion by 2050, and if global net-zero targets are achieved, this figure could surge to US$500 billion compared to current value of US$44 billion as per Wood Mckenzie report cii.in .
These projections were made by Minister of Petroleum and Natural Gas Hardeep Singh Puri at the 12th Edition of the CII Bioenergy Summit on 15 Oct fieo.org .
Underscoring India’s agricultural strength and its vast biomass potential as critical elements in the country’s transition to clean energy, Puri said that the country recognized as an agricultural powerhouse, is a leading producer of rice, wheat, cotton, sugar, and various horticultural and dairy products sbi.com.in .
He said that the country has more than 750 million metric tonnes of available biomass, with about two-thirds being used for domestic purposes such as cattle feed and compost fertilizer makeinindia .
According to a report by PWC, he noted, 32% of India’s total primary energy consumption is derived from biomass, and over 70% of Indians rely on it for energy across the value chain bseindia .
India’s position as a major biofuel producer and consumer has been strengthened through coordinated policies, political support, and abundant feedstocks, underlined the minister nseindia .
He noted that the International Energy Agency (IEA) forecasts a growth potential of 3.5 to 5 times for biofuels by 2050 due to Net Zero targets, presenting a substantial opportunity for India jpx.co.jp .
The Global Biofuels Alliance (GBA) aims to facilitate knowledge sharing, technological advancement, and policy development, unlocking a US$500 billion opportunity in biofuels and accelerating global adoption through technology transfer wto.org .
He said that the government initiatives, such as the Indian Solar Alliance (ISA) and GBA, aim to accelerate the transition to cleaner energy sources, reduce import dependency, save foreign exchange, promote a circular economy, and move toward a self-reliant energy future opec.org .
The Minister also referred to different incentives introduced by government to support ethanol production iea.org .
These included India’s collaboration with Brazil, emphasizing the importance of joint efforts in sustainable bioenergy and biofuels to enhance energy security and reduce carbon emissions, particularly in hard-to-decarbonize sectors like aviation and shipping iba.org.in.
Minister Puri emphasized that the responsibility for fuelling India’s green growth extends beyond the government to include industry leaders, researchers, innovators, and citizens. He urged all stakeholders to collaborate boldly to establish a sustainable bioenergy sector that meets energy needs and sets a global standard euronext . Fiinews.com
