In India, the national government has reduced the import tax on biodiesel from 7.5 percent to 2.,5 percent. The change will prompt renewed imports and increase the biodiesel supply. Finance Minister Pranab Mukherjee has also proposed to exempt gasoline or diesel mixed with locally-produced ethanol or biodiesel from excise taxes.
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Joelle Brink | Jul 7, 2009 | Reply
The India-Brazil export deal has been on and off again for the past several years. Now with the involvement of Bharat Petrolem (the former Indian Shell), Brazilian giant Petrobras, and lower prices due to oversupply, it is finally going forward. The Indian government is clearing the way by reducing biodiesel import duties.
Biodiesel is of key strategic importance to India because it is used by Indian Railways, the world’s largest rail system and the prime mover of people and goods throughout the country.
India has also been discussing ethanol imports from Brazil.