India explores Brazil's ethanol tech to reduce oil imports

India expressed its intention to decrease its reliance on crude oil imports by adopting advanced technologies similar to those employed by Brazil for ethanol mixing. The two nations mutually agreed to increase their trade volume, setting a target of $ 50 billion by 2030, a significant jump from the current $ 15.2 billion. Commerce Secretary Sunil Barthwal, during the trade data release on October 13, emphasized the importance of cooperation in the field of ethanol and bio-fuel blending. He stated, ?Ethanol and bio-fuel blending is an important area of cooperation where we feel Brazil and India can learn from each other. In fact, Brazil has very advanced technologies available on ethanol mixing with petrol and diesel, which will help us reduce our dependence on crude, petroleum imports.? India has been intensifying its efforts to achieve a 20 percent ethanol blending ratio with petrol by 2025, aiming to decrease its reliance on crude oil imports. As of June 2022, the average blending rate stood at 10 percent ethanol in petrol. Given that Brazil, a leading producer of sugarcane and ethanol, has been at the forefront of integrating biofuels into its fuel economy, India seeks to emulate Brazil's success. India hopes to benefit by adopting the techniques used by the Latin American nation for ethanol blending. According to data from the Department of Commerce, India's overall crude oil imports surged to $ 162.2 billion in FY23, compared to $ 107.5 billion the previous year.