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Global Biofuel Alliance
April 18 , 2024
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- It was launched by India along with the leaders of Singapore, Bangladesh, Italy, USA, Brazil, Argentina, Mauritius and UAE.
- It aims to serve as a catalytic platform, fostering global collaboration for the advancement and widespread adoption of biofuels.
- It also includes international organizations including the World Bank, Asian Development Bank, World Economic Forum, International Energy Agency, etc.
- India is the 3rd largest consumer of crude oil and is heavily dependent on energy imports.
- Both Bioethanol and biodiesel are expected to grow at a CAGR of 5% in the Indian market.
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