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HomeBusinessFinancePromote felx-fuel vehicles to tread crude oil price fluctuation: Gadkari

Promote felx-fuel vehicles to tread crude oil price fluctuation: Gadkari


Union minister on Monday said that the country needs to promote flex- vehicles and e-mobility to tide over the problems created by wide fluctuations in crude oil prices in the international market.

Addressing an event organised by SIAM (Society of Indian Automobile Manufactures), Gadkari further said that the aviation sector is also facing problems due to the high cost of aviation .

“Every year, (wide) fluctuations in crude oil prices are creating lots of problems…We need to march towards adoption of 100 per cent flex vehicles,” he said.

Flex-fuel compatible cars can run on more than one type of fuels and also on a mixture. Typically, a blend of petrol and ethanol or methanol is used.

The road transport and highways minister pointed out that 40 per cent of pollution in India is because of the use of fossil fuels.

Noting that there is a need to encourage technology to convert waste to wealth, he said, “we are encouraging lots of industries to start production of ethanol”.

The minister also appreciated the role of the automobile industry in creating employment opportunities in India.

“The automobile sector employs over 4 crore people in India. It also pays maximum GST to the government,” he said.

Gadkari also noted that there is huge potential for exports of automobile components.

Gadkari said ethics, economy, ecology and environment are the most prominent pillars of India’s society.

“Regarding ecology and environment, the whole world is marching towards carbon neutrality,” he said.

The minister said sugar manufacturers who have played an important part in the current ethanol milestones of the nation will reap similar economic benefits working towards sustainability together.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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