New Delhi, July 19, 2024 : : Dented corn ethanol has the capacity to invite investment of 8 lakh crore and will also help mitigate pollution and create local jobs, alongside, it will be an additional positive factor in increasing farmers’ income, said, Shri Jagdeep Dhankhar, Hon’ble Vice President of India today in PHDCCI’s 4th International Climate Summit 2024, centered on “Corn Ethanol: Energy Security, Food Security, and Decarbonization,” held today at hotel Taj Palace, New Delhi.
Highlight the extremity of the present situation, the Hon’ble Vice President said that it is no longer an option but an existential problem that if not urgently addressed will lead to a disaster. India is working earnestly in this direction by taking affirmative steps through various policies like the 2018 Biofuel Policy and the Gobardhan Scheme, these initiatives are a true step in the right direction for climate change, added Shri Dhankhar
Hon’ble Vice President also appreciated PHDCCI for being the voice of industry and trade. Climate change is a word that resonates in every forum, both nationally and globally. It is important to have a holistic approach, it will certainly contribute to addressing the menace of climate change and India’s goal of Viksit Bharat.
Shri Nitin Jairam Gadkari Hon’ble Minister of Road, Transport & Highways, Government of India, discussed on the pivotal role of corn ethanol in boosting India’s energy security. While emphasizing about his Ministry’s commitment to advancing sustainable transportation solutions, he highlighted that the Ministry is currently working on a 70,000 crore infrastructure project in Delhi to reduce pollution and decrease distances to many cities, which will reduce logistic costs and double our country’s growth. Citing example of the Delhi-Mumbai expressway, wherein 90 lakh tons of waste from Ghazipur was used in road construction, he stated that this waste can also be converted into hydrogen and ethanol, and extensive research is ongoing for this.
He further urged the PHDCCI to encourage its members to investments in this initiative.
Mr. Sanjeev Agrawal, President, PHDCCI, highlighted the potential of dented corn ethanol, emphasizing its high starch content that makes it ideal for ethanol production, and its significant role in achieving energy and food security while promoting decarbonization. He praised the Government’s initiatives like the Global Biofuel Alliance and the National Policy on Biofuels as critical steps towards India’s net-zero target.
Shri Hemant Jain, Sr. Vice President, PHDCCI, expressed gratitude to the dignitaries, including the Hon’ble Vice President of India, Shri Jagdeep Dhankhar, whose insights and guidance were instrumental in shaping the discussions at the summit. He further emphasised on the importance of India’s shift towards green energy sources such as biofuels and green hydrogen, aligning with the vision of a sustainable and environmentally conscious future.
Mr. Alok B. Shriram, Sr. MD & CEO, DCM Shriram Industries Ltd., advised that each country and region must find solutions based on their strengths and weaknesses. Bioethanol from dented corn has many strengths, it is green, renewable, and can benefit the country economically. Its water requirement is low, and its starch content is high. India has large ethanol distillation capacities that can be quickly augmented.
Dr. J. P. Gupta, Summit Chair, emphasized the transformative potential of corn ethanol in ensuring energy security and driving economic growth. He highlighted the summit’s role in bringing together diverse stakeholders to explore sustainable solutions and advance India’s commitment to a greener future. He discussed that the PHDCCI has been at the forefront of the decarbonization pathway of India through its three editions of the International Climate Summit.
Dr. Ranjeet Mehta, Executive Director, PHDCCI, highlighted the importance of leveraging advanced technologies and innovative practices to enhance energy security and sustainability. He informed that the 4th ICS has been a game-changer, not only aiding in decarbonization but also increasing farmers’ incomes. India has substantial plans to establish 5,000 biogas plants by 2030, while currently we have around 100. There is a huge opportunity to invest in this sector. Participants in today’s summit will learn more about this and about huge opportunites that lies ahead for the sector, particularly in three key areas like land, technology, and manpower to manage these biogas plants
Mr. Vishesh C. Chandiok, CEO, Grant Thornton Bharat LLP, discussed that India’s target of achieving net zero by 2070 and becoming energy independent by 2047 can only happen with sustained public-private collaboration, technology integration and by sharing knowledge. Climate is one of the six focus ecosystems at GTBharat and we are honoured to play an integral role at The 4th International Climate Summit. As a firm, GTBharat is at the helm of helping government and businesses adopt and adapt to climate change, and I am confident that this summit will enable conversations that drive this change.”
Mr. Yogendra Sarin, President & CEO, Petron Scientech USA, while speaking on sustainability and energy efficiency informed that anything you can do with crude oil can also be done with corn. Dented corn is not a food crop, it is grown as a fuel so every state in India can cultivate it. The protein from this corn goes to the animal industry, and the remaining urea can be further utilized, supporting the circular economy. Referring to other countries, he mentioned that in Brazil, all taxis are allowed to use ethanol only. Lastly, he expressed confidence that dented corn ethanol will help in food security, energy security, and decarbonization.
