India can reduce crude oil import bill by upscaling production of methanol

New Delhi [India], Dec 21 (ANI): By upscaling the production of Methanol, India can reduce its crude oil import bill substantially, said member Methanol task force group NITI Aayog, Dr. V.K. Saraswat.

"Methanol has emerged as a clean, cheaper, safer and pollution free energy option which can be used for transportation fuels and cooking fuel. India has the potential to undertake the production of Methanol from high ash coal using indigenous technology with the help of industry," said Saraswat after chairing a combined meeting of the four task forces on Methanol here today.

Dr. Saraswat also emphasized that Methanol would supplement various energy solutions being explored by the Government to reduce its dependence on crude oil imports.

Experts in the Methanol Task Force opined that in collaboration with various agencies, academia and industry the objectives of Methanol production and upscaling are feasible based on availability of the resources and technology.

The four task forces were set up six months ago and since then a series of meetings and deliberations have taken place to explore and give a push to methanol economy in the country. (ANI)

This story has not been edited. It has been published as provided by ANI