Indian Energy Market Eyes the Alternative Sources for a Solution

Posted on: Oct-2017 | By: QY Research | Energy & Resources

Renewable sources are what the Indian petroleum sector are looking forward to in order to find an alternative for the exhaustible fuels that are being utilized on a larger scale in today’s generation. Thus, as a part of the initiative, the Union Transport Minister Nitin Gadkari has decided on making it mandatory for the automotive industry to come up with a new technology that will help the vehicles use alternatives sources like biofuel or electricity for transportation rather exhausting the limited petrol or diesel source.

The government along with the automobile industry will invest in the nation’s public transport system in the coming months so as to help India reach its green target goal and also open new avenues for the Indian energy market. The diversification in the fuel is something the Indians will have to openly accept so as to help cut down the global warming and fuel exhaustion problems that will have a huge impact on the coming generations.

According to the Union Transport Minister, the next 25 Years will ease the use of more of electric vehicles and this is surely going to bring about an economic viability. The Indian energy market is just waiting for an excellent source of energy so as to help save the planet and the people. Currently, the Indian government is planning to introduce ethanol, a second generation alternative fuel, into the Indian energy market. Looking at the increasing pollution levels and import cost of diesel, the automobile manufacturers are shifting their eyes from fuel-run vehicles to biofuel automotives. This concept is not only going to benefit the companies or government but also the future of the country in the coming years.

The government is looking out for an alternative source including compressed natural gas or ethanol for overcoming challenges such as the pollution or high import petrol or diesel. The other alternatives include liquefied natural gas and methanol, which the companies are currently researching on. The initiative is basically to reduce the number of vehicles on roads and concentrate more on public transportation in the coming years.

Once the manpower becomes abundant, costs are feasible, and if raw materials are easily available then India is definitely going to become a developed automobile export base. The Indian energy market is surely going to boon from the alternative sources that are going to be implemented in the coming years.