Ethanol Blending Saves $19 Billion in Foreign Exchange
Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, stated that India achieved nearly 20% ethanol blending during Ethanol Supply Year (ESY) 2025. This achievement resulted in foreign exchange savings of approximately USD 19.3 billion over the past decade and enabled direct payments of over USD 15 billion to farmers.
Speaking at the inauguration of the 4th India Energy Week (IEW) 2026 in Goa, Minister Puri outlined India’s strategy of balancing energy transition with economic security to meet clean energy goals.
He noted that India is on track to meet its compressed biogas targets as part of a broader expansion in bioenergy. While renewable energy’s share in global electricity generation has increased from one-fifth to nearly one-third, traditional energy sources remain essential to meet rising demand.
Addressing future energy needs, Puri said that by 2050, India’s share in global energy demand is expected to rise by 30–35%, accounting for nearly 10% of total global energy demand.
To meet this demand, the government is expanding capacity across the energy mix, including increasing nuclear power capacity to 100 GW by 2047. This is supported by the Atomic Energy Bill 2025 (SHANTI), which modernizes India’s nuclear legal framework.
Highlighting upstream sector reforms, the minister referred to the Oilfields (Regulation and Development) Amendment Act, 2025, which introduced a single petroleum lease and long-term stability. Initial assessments from recent deepwater exploration rounds have been promising, leading to targeted drilling efforts.
Puri also noted that while fuel prices rose sharply in many major economies after 2021, fuel prices in Delhi in 2025 remained lower than in 2021. For over 100 million PMUY beneficiaries, LPG prices have been maintained at approximately USD 5.5–6 per cylinder, among the lowest globally.
The petroleum sector now accounts for 28% of India’s total trade volume by weight at ports. With a USD 8 billion government package for shipbuilding, the minister identified investment opportunities worth nearly USD 5 billion for around 60 vessels essential for oil and gas trade.
Additionally, India’s Global Capability Centers (GCCs) are projected to generate USD 105 billion in revenue by 2030, supported by around 2,400 centers. GCC revenue has grown from USD 40.4 billion in FY19 to USD 64.6 billion in FY24, registering a 9.8% annual growth rate, and employs over 2.8 million professionals.
Concluding his address, Puri expressed confidence that India Energy Week would act as a catalyst for collective progress and serve as a platform for developing solutions that benefit the world. Earlier in the day, he met Goa Chief Minister Pramod Sawant and H.E. Sultan Al Jaber, UAE’s Minister of Industry and Advanced Technology and Managing Director & Group CEO of ADNOC.