Sh. Nitin Gadkari Awards Indian Oil Corporation Ltd. (IOCL) for Highest Biodiesel Blending in India
New Delhi, September 2024 – The India Bio-Energy & Tech Expo 2024 witnessed the recognition of industry leaders contributing to India’s growing bioenergy sector. Held at the prestigious Yashobhoomi Dwarka convention center in the nation’s capital, the event honored the achievements of biodiesel suppliers for their exemplary contributions during the financial year 2023-24.
At the ceremony, Sh. Nitin Gadkari, Hon’ble Minister for Road Transport and Highways, and Sh. Hardeep Singh Puri, Hon’ble Minister for Petroleum and Natural Gas, presented awards to the key players in the biodiesel industry. The awardees were recognized for their efforts in enhancing biodiesel production and supply, furthering India’s transition towards sustainable energy.
Awardees and Achievements:
* Indian Oil Corporation Ltd. (IOCL) – Awarded for achieving the highest volume and blending percentage of biodiesel in the country (2023-24).
* Emami Agrotech Pvt. Ltd. – Honored as the largest supplier of biodiesel to OMCs (Oil Marketing Companies) in the large category (2023-24).
* Blue Stone Energy Pvt. Ltd. – Recognized as the largest supplier of UCO-Biodiesel to OMCs (2023-24).
* Chemenergy Biofuels Pvt. Ltd. – Acknowledged as the largest supplier of biodiesel in the medium category (2023-24).
During his address, Sh. Nitin Gadkari highlighted the crucial role of biofuels in reducing India’s dependency on fossil fuels, projecting that bioenergy is set to comprise 50% of India’s fossil fuel consumption within the next five years. He also urged state finance ministers to lower the Goods and Services Tax (GST) on flex-fuel vehicles to 12%, down from the current 28% plus a 15% cess, to encourage the adoption of greener fuel alternatives.
The India Bio-Energy & Tech Expo 2024, organized by the Indian Federation of Green Energy (IFGE), provided a significant platform for discussing the future of bioenergy technologies and accelerating India’s green energy initiatives. The event brought together industry leaders, government representatives, and experts to discuss the latest advancements in bioenergy and its vital role in achieving India’s sustainability goals.