Country saved $19.3 billion through ethanol blending: Hardeep Singh Puri at IEW Goa

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri has revealed that India’s push to blend ethanol with petrol has delivered major economic gains as the country saved nearly USD 19.3 billion in foreign exchange after achieving close to 20% ethanol blending in the Ethanol Supply Year (ESY) 2025.

He also said that the ethanol blending programme has also resulted in direct payments of over USD 15 billion to farmers over the past decade.

Speaking at the 4th India Energy Week (IEW) 2026 in Goa, Puri outlined India’s approach to managing energy transition while safeguarding economic security. He said India is on track to meet its compressed biogas targets as part of a broader bioenergy strategy, even as conventional energy continues to play a critical role in meeting growing demand.

“The history of energy has never been about replacement alone; it has always been about addition,” the Minister said, noting that while renewable and alternative energy sources are expanding rapidly, conventional fuels will remain essential in the foreseeable future. He added that India’s share of global energy demand is projected to rise sharply by 2050, increasing by nearly 30–35 per cent to about 10 per cent of total global demand.

To meet this requirement, the government is expanding capacity across the energy mix, including plans to scale up nuclear power to 100 GW by 2047. This ambition is supported by the Atomic Energy Bill 2025 (SHANTI), which modernises India’s nuclear legal framework.

Puri also highlighted reforms in the upstream oil and gas sector, particularly the Oilfields (Regulation and Development) Amendment Act, 2025, which introduces single petroleum leases and long-term policy stability.

On pricing, the minister noted that while fuel prices rose globally after 2021, prices in Delhi in 2025 remained lower than in 2021. LPG prices for over 100 million PMUY beneficiaries have been maintained at among the lowest levels globally.