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Time for the country to go in for alternative fuel sources made from agriculture produce: Nitin Gadkari

Union Minister for Road Transport and Highways Nitin Gadkari has said it is time for the country to go in for alternative fuel sources made from agriculture produce. He gave an example of ethanol made from sugarcane juice and said it will soon become future fuel. 

He was speaking at the inauguration of India-Chem 2018 - the 10th Biennial International Exhibitions and Conferences - Chemical and Petrochemicals-Advantage India, in Mumbai. The Minister said the country needs to reduce its imports and increase exports.

He has also said, two local TV channels report, that India is facing ‘economic crisis’ due to its huge oil imports. He has said it ahead of a meeting of the key ministers to discuss the falling rupee and the nation’s widening trade deficit.

India, the world's third biggest oil importer, depends on overseas markets to meet 80 percent of its oil needs. 

The partially convertible rupee has lost about 13 percent against the dollar since the beginning of the year, adding to the nation's oil import bill at a time when crude is hovering at around $85 a barrel. 

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