Gautam Buddh Nagar: Prime Minister Narendra Modi on Saturday noted that blending of ethanol in petrol has helped India reduce its dependence on crude oil imports.
Addressing the inauguration ceremony of the first phase of Noida International Airport in Jewar, PM Modi thanked sugarcane farmers for supporting 20 per cent ethanol blending in petrol.
The Prime Minister said, "The expansion of modern connectivity will boost the capacity of the food processing sector in western UP, which will facilitate access to global markets. I would like to thank the farmers, as the ethanol produced from your produce has helped reduce the country's dependence on crude oil. If it were not for this adulteration with petrol, we would have had to import 45 crore barrels - that is, 700 crore litres - from abroad. The country has benefited from the hard work of its farmers, while the farmers themselves have also been rewarded. This money, which has been saved, could have otherwise gone out of the country."
The statement comes amid high crude oil prices due to the conflict in West Asia, while India has already achieved its target of blending 20 per cent ethanol in petrol five years ago.
Acknowledging the inflation caused by the conflict between the US-Israel and Iran, he said that the government is taking steps to ensure that the burden of this crisis does not fall on the public.