India could help reduce its bill for oil purchases, if it permits imports of ethanol, argues the US Grains Council (USGC) as reported by the Hindu Business Line.

USGC is a trade group that promotes US exports of grains and related products like ethanol. Last week, its chief economist Mike Dwyer was cited by the Indian newspaper as saying that the country should immediately concentrate on implementing a 10% ethanol blend nationwide to lower petrol prices and cut its energy import bill, achieving foreign exchange savings. According to Dwyer, ethanol imports could supplement local production to ensure the needed blend rate.

Under India’s current policy, it is not allowed to import ethanol for blending.


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