Top 10 Bioeconomy Markets and Predictions for 2019

9. Star of India

For many of the issues that face India, many though not all find solutions in the bioeconomy. Especially in focus: the search for jobs, mitigation of the net emissions created by transport, and creating more insulation for the Indian economy against the rollercoaster of petroleum prices via diversification of the energy supply.

Diversification in the power side of energy has proven to provide remarkable price stability. There’s natural gas, petroleum, biomass, nuclear, coal, solar, wind, geothermal and hydro — the management of supply has led to price stability for the demand side. Generally, most economists agree that greater levels of certainty leads to greater acceptance of the risks of innovation, and powers growth. And India, oh my, has seen its economy grow.

But transport remains far more dependent on one source, and costs rise and fall with every price signal out of OPEC. Now, India is a refining nation and a consuming nation when it comes to petroleum, but not really a producer. So, the Ministry of Petroleum & Natural Gas is more open to alternatives than ministries in producer nations.

The goals of that unit are worth noting. They are:

1) To Take forward the Bio Ethanol, Bio Diesel & Waste to Bio Fuel programs in India
2) Suggest initiatives for Oil Marketing Companies in India to promote Bio Fuels
3) Suggest areas of Research &Development by IOL/BPCl
4) To study current status of Bio fuel blending program, suggest ways to overcome the hurdles, suggest field studies and pilot program for higher % blends
5) To Study the blending programs of leading countries and suggest best practices to be adopted by India for sustainable Bio Fuel Program
6) To achieve total coordination between Bio Diesel and Ethanol Industry to enhance production
7) To coordinate with bulk users such as Road Transport Corporations, Indian railways, Indian Defense, Shipping Industry and achieve reduction in consumption of fossil fuels
8) To achieve inter-ministerial coordination with other ministries such as Ministry of Rural Development, Ministry of Panchayat Raj, Ministry of New & Renewable Energy, Minister of Environment & Forests, Ministry of Heavy Industries and Public Enterprises, Department of Chemical & Fertilizer, Ministry of Agriculture for feed stock production and supply chain Management
9) To conduct Road Shows, Workshops, Seminars and other such awareness programs to popularize and increase bio fuel consumption
10) To suggest Road Map for effective implementation of Bio fuel policy in India
11) To Collate and recommend the efforts being made by various other Ministries, Industry, Academia, Research Institution and put forth to the steering Committee