Business Daily from THE HINDU group of publications
Friday, May 02, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Friday, May 02, 2008 ePaper | Mobile/PDA Version | Audio |
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Industry & Economy
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Events States - Andhra Pradesh Seminar on biofuels, agribiotech in AP Our Bureau Hyderbad, May 1 The Federation of Andhra Pradesh Chambers of Commerce and Industry (Fapcci) is organising a one-day seminar on biofuels and agribiotech industries in Andhra Pradesh on May 3. “The seminar is aimed at further accelerating the process of promotion and to bring more awareness of bio-fuels and agribiotech industries in the State,” Mr Laxmiprasad Agarwal, Chairman, Information Technology and Biotechnology Committee, Fapcci, said while addressing a press conference here on Wednesday. According to him, India currently imports 70 per cent of the oil requirements and diesel and petrol consumptions are approximately in the proportions of 70 per cent and 30 per cent respectively. “Against this backdrop of increasing consumption levels of a high growth economy, biofuels will be of critical importance in the coming years and may witness good growth rates,” he added. As per estimates, if around 10 per cent of the current oil imports are substituted by bio-fuels, it would mean a reduction in the import bull by at least $3-4 billion a year. More Stories on : Events | Non-conventional Energy | Andhra Pradesh
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