President of Green Crude Foundation Dr Hemant Jambhekar said that India must promote biofuel for reducing its crude oil import bill. “Vehicles could be run on 30 per cent ethanol mixed fuel in India to cut down expenditure on imports,” he said, while addressing a seminar on biofuel organised by VNIT and Green crude Biofuel foundation at VNIT. Prof P M Padole, Director of VNIT, Chairman of VNIT’s Board of Governance Vishram Jamdar and Convenor Ajeet Parse were present on the dais.

 

 

 

Dr Jambhekar further said that domestic crude oil production was only 20 per cent of the total demand. Hence, India is importing more than 80 per cent of crude oil from the world.

 

“If the production of biofuel would be accelerated, it would provide jobs to the youngsters and also boost the economy,” he said. He also threw light on the importance biofuel production for the farmers.

P M Padole, Director of VNIT stated that India should go in for production of biofuel on a massive scale to bring down dependence on the crude oil imports. Padole also informed that India is spending more Rs seven lakh crore per year to meet its growing crude oil demand.

 

He also praised Union Minister for Road Transport, Highways and Shipping Nitin Gadkari for promoting biofuel. Anil Malviya claimed that biofuel would provide stable price to the market. He also elaborated benefits of the biofuel for Indian economy. Ajit Parse applauded Nitin Gadkari’s effort of promoting use of ehtanol as a substitute to petrol and diesel.