Novozymes sees India growing into top market over next few years

In India, Novozymes expects the country to become one of its biggest markets during the next few years thanks in large part to an increased oil import bill that will further support use of domestically produced biofuels. The country imports 80% of its fuel but is mandated to blend 20% ethanol by 2017. Novozymes expects that producing ethanol from waste will become cheaper than what the sugar mills are willing to sell ethanol for, which is currently running about 60% higher than the oil companies want to pay.