Global Fuel Alliance

Global Biofuel Alliance is one of the priorities under India’s G20 Presidency. It is a multilateral forum aimed at promoting sustainable biofuels globally by formulating national policies, developing marketplaces, evolving technological competency, and adopting internationally recognized standards and codes of practice. India, Brazil, and the US are the founding members of the alliance.
The three founding members of alliance, the US, India and Brazil contribute about 85% of the global production and the 81% of the consumption of ethanol.

Biofuel Production and India’s Targets

The global ethanol market was valued at $99.06 billion in 2022 and is predicted to grow at a CAGR of 5.1% by 2032 and surpass $162.12 billion by 2032. According to estimates from the International Energy Agency (IEA), global biofuel production would need to triple by 2030 to put the world’s energy systems on track toward net zero emissions by 2050.

In its ambitious energy transition journey, India has committed to achieving carbon neutrality by 2070. India also has an ambitious biofuel roadmap. The government has advanced its target to achieve 20% ethanol blending in petrol by 2025-26 from an earlier target of 2030. The target of petrol supplies with 10% ethanol blending was achieved in June last year, ahead of the original schedule of November 2022.