Govt aims to boost methanol economy to Rs 2 lakh crore’
New Delhi (PTI) India endeavors to take the Rs 11,000 crore methanol economy to about Rs 2 lakh crore. It will be in five years in a bid to promote cleaner fuel and cut down on the huge crude oil import bills.
The transport minister, who inaugurated electric vehicle expo here, cautioned the manufacturers not to compromise on quality by importing substandard parts from China.
Boost methanol economy
India is now electricity surplus and there is also abundance of coal and solar power. Government’s thrust is to promote import substitute, cost effective and pollution free transport that includes electric mobility.
“It is our endeavor to take Rs 11,000 crore methanol economy to Rs 1.5-2 lakh crore economy in five years,” Gadkari said in his inaugural address.
Rs 22 a litre in India
He said methanol was priced at Rs 12 a litre in Israel, Rs 16 a litre in China and Rs 22 a litre in India and was much cheaper than petrol and diesel.
The minister said the electric mobility space has seen many changes in the last one year with e-rickshaws reaching every nook and corner of the country besides the advent of electric auto-rickshaws and bikes.