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Interviews- Oct 31,23
…opines Dr Pramod Chaudhari, Executive Chairman, Praj Industries in this interview on the declaration of Global Biofuel Alliance at G20 Summit 2023.
…opines Dr Pramod Chaudhari, Executive Chairman, Praj Industries in this interview on the declaration of Global Biofuel Alliance at G20 Summit 2023.
How do you look at the G20 Summit 2023? What benefits does the Indian manufacturing sector had from it?
With representation from the world's most powerful nations, who collectively account for 85% of the global GDP and 75% of the world's exports, India's G-20 leadership has given a platform for global economic cooperation as well as an opportunity for India.
Currently, India's economy is the fifth largest in the world. India has recently made progress toward becoming a major global manufacturing hub and is now a top choice for multinational corporations looking for a base of operations other than China for manufacturing, production, and raw material sourcing. India's manufacturing sector is forecasted to have the capacity to reach $1 trillion by 2030, making it the fourth largest economy in the world in the near future. Industries including automotive, manufacturing, engineering, chemicals, pharmaceuticals, renewable energy, and consumer durables are major drivers of economic growth in India.
With the Make in India initiative of the Indian government, the manufacturing industry is said to be poised for rapid growth. This would demand for building physical infrastructure, grow advanced manufacturing capabilities and embracing industry 5.0 technologies. Manufacturing sector is among the top consumer of fossil fuels and largest emitter of Green House Gases. Renewable energy sources like Biofuels can help fulfil the growing needs of energy as well as reduce the GHG emissions significantly. Biofuels have the potential to create new economic opportunities, from farming and feedstock production to biofuel processing and distribution boosting rural manufacturing and entrepreneurship. Diversifying the energy-mix with biofuels enhances energy security by reducing reliance on oil imports and volatile global oil prices.
How would you opine the Global Biofuel Alliance launch at G20 Summit 2023?
In an era where climate change and environmental concerns are at the forefront of global discussions, the need for sustainable energy sources is not a choice but an imperative. One of the most promising solutions on the horizon is biofuels, a renewable energy sources derived from organic materials such as sugary-starchy feedstocks, agricultural-forest residues, and algae.
Recognising the potential of biofuels, the Global Biofuels Alliance has emerged as a driving force in the industry. This alliance is committed to facilitating access to technology, fostering an ecosystem to support biofuel production and consumption, and initiating policy interventions and alterations in the global south. We are assertive about the positive impacts of the Global Biofuels Alliance and its mission to shape the future of the global biofuels industry.
As the world continues to grapple with the challenges of climate change and the need for sustainable energy sources, the Global Biofuels Alliance will play a pivotal role in shaping a more sustainable and prosperous future.
As a biofuel producer, what are some further expectations from the Indian government?
One of the major challenges facing developing nations in the biofuels sector is the lack of resources and infrastructure needed for efficient production. The Global Biofuels Alliance addresses this issue by sharing technological innovations that streamline the biofuel production process. These innovations include advancements in crop breeding, efficient biofuel conversion methods, and sustainable agricultural practices.
By fostering the exchange of knowledge and technology, the alliance empowers nations to harness their natural resources and contribute to the global biofuels supply chain.
In many parts of the global south, biofuels face numerous challenges, including absence of inclusive policies and regulations that hinder their growth. The Global Biofuels Alliance recognises the importance of policy intervention and alteration to create a conducive environment for biofuel development. By collaborating with governments and international organisations, the alliance works to reform policies that inhibit biofuel adoption and promote sustainable alternatives.
One of the key policy areas the alliance focuses on is incentivising biofuel production and consumption. This can involve providing subsidies or tax incentives to biofuel producers, reducing tariffs on biofuel imports, and mandating blending ratios for biofuels in transportation fuels.
What significant role India play in producing biofuel? What are some of your developments in this lead?
India can play a pivotal role in mass scale adoption of Biofuels with benefit of unique geographical location in the global south. Being a strong agrarian economy, and access to home-grown technology, India is poise to become a future destination of Global Biofuels Hub for production, consumption, and export of Biofuels in the world.
Being a leading industrial biotechnology conglomerate, Praj will play a key role in providing access to the indigenously developed technology. With over four decades of experience and expertise in having a rich knowledge on the processing a plethora of feedstocks including sugary, starchy, and lignocellulosic facilitating production a wide range of biofuels for all modes of transportation including surface, air and marine.
Having commissioned more than 1000+ projects in more than 100 countries across 5 continents, Praj has evolved as a melting pot of working with different feedstocks in diverse climatic conditions. The world can benefit from such a diverse knowledge and expertise.
Dr Pramod Chaudhari
G20 Summit 2023
manufacturing sector
GDP
automotive
manufacturing
engineering
chemicals
pharmaceuticals
renewable energy
Make in India
Green House Gases
Global Biofuel Alliance
knowledge and technology
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