India will become green fuel exporter: Gadkari

Union Minister Nitin Gadkari on Thursday said India will become an exporter of green fuels instead of being an importer of fossil fuels. “Green hydrogen is the future,” Gadkari said and mentioned that the government is working on a project to run hydrogen buses and trucks on 10 routes across the country in partnership with auto and fuel companies.

He pointed out that India's breakthrough in making nuclear energy with thorium, which is abundantly available in the country, unlike uranium, will boost low-cost power production. Earlier, thorium was being used in making roads since the know-how to turn it into energy was lacking, he said.

Speaking at the 11th National Leadership Conclave organised by All India Management Association (AIMA), the minister pointed out that India imports fuels worth Rs 22 lakh crore each year and it could save that money and put that into the domestic economy by turning to green fuels.

Gadkari advocated more and more production and use of biofuels to reduce imports and to boost the agricultural economy. “India cannot become atmanirbhar until agriculture's share in its GDP rises to at least 24-25%,” he said. According to him, turning food into fuel and agri waste into road construction material will enrich farmers and lower India's import dependency. He mentioned that India imports about 60 lakh tonnes of bitumen each year for building roads and its prices have shot up during the current war in West Asia. That dependence will be eliminated by using bio-bitumen made with rice straw, he said.

He espoused the cause of the circular economy and said that India could have a waste economy worth Rs 5 lakh crore. He referred to various commercial deals involving the use of recycled toilet water by power plants and oil refineries, and the use of steel sludge in building roads. He favoured importing used rubber tyres for making road building material and imported scrapped cars from overseas to draw materials to make automobiles in India.

TV Narendran, President, AIMA and CEO & Managing Director, Tata Steel Ltd, concurred with the minister and mentioned that his company is contributing sludge for road making. He highlighted the impact of energy and material supply disruption on the Indian economy and industry due to the war in West Asia and emphasised the need for growing the domestic economy to make it more resilient.

During the session, Gadkari presented the AIMA Fellowship to Yezdi Nagporewalla, CEO, KPMG in India, and Dr JS Juneja Award for Creativity and Innovation in Micro, Small & Medium Enterprises to Algo8AI, an industrial AI firm.

The session was also addressed by Sanjiv Puri, Chairman, AIMA Excellence Award Jury and Chairman & Managing Director, ITC Limited. Vishal Kampani, Senior Vice President, AIMA and Vice Chairman & Managing Director, JM Financial Ltd delivered the vote of thanks, and Vineet Agarwal, Vice President, AIMA and Managing Director, Transport Corporation of India Ltd introduced the minister in the session.