India's Ethanol Push and Mineral Mission Pave Path to Green Energy

Prime Minister Narendra Modi highlighted Cabinet moves to revise ethanol procurement prices and launch the National Critical Mineral Mission. These initiatives support cleaner energy, reduce crude imports, boost ethanol production, and propel India's high-tech and defense sectors towards self-reliance in mineral resources.

The Indian government has announced a strategic shift to enhance ethanol production and focus on crucial mineral exploration, paving the way for cleaner energy solutions. Prime Minister Narendra Modi declared that the Union Cabinet's recent decisions are pivotal steps in reducing crude oil imports and empowering domestic sectors.

According to the Cabinet's resolutions, the ethanol procurement price from C-heavy molasses has been increased by three percent to Rs 57.97 per litre for the 2024-25 supply year. This move is intended to encourage ethanol production as India aims for a 20 percent ethanol blend in petrol by the 2025-26 deadline.

In parallel, the creation of the National Critical Mineral Mission, with an allocation of Rs 16,300 crore, underscores India's commitment to self-reliance in critical minerals. This mission, expected to see Rs 18,000 crore contributed by public sector enterprises, focuses on mineral exploration to support high-tech and clean energy industries.

(With inputs from agencies.)