Standard Post with Image

Govt urged to promote algae Bio-Fuel Products

Chemical Industries Association, an apex body representing a cross section of chemical industries based in Chennai, has urged Prime Minister Narendra Modi to consider promoting algae bio-fuel products.

India imports around 180 million tonnes of crude oil, around 110 million tonnes of coal and around 16 billion cubic metres of natural gas in a year. The level of import of these fuels has resulted in a current account deficit, says a memorandum from the association to the Prime Minister.

While the demand of crude oil, coal and natural gas is likely to increase at a rate of 7 Percent per annum, the domestic production growth of crude oil is around 1 Percent per annum and that of natural gas and coal is around 4 Percent. This would lead to a further increase in import, it said.

Source-On Request