India Launches Global Biofuels Alliance at G20 Summit in New Delhi
India launched the Global Biofuels Alliance on the sidelines of the G20 Summit in New Delhi on September 9, 2023, uniting 19 countries and 12 international organizations to accelerate biofuels adoption. The alliance positions India as a clean-energy leader and supports domestic biofuel programs and ethanol-sector growth with direct economic implications for Indian industry.
On the sidelines of the G20 Summit in New Delhi on September 9, 2023, Prime Minister Narendra Modi launched the Global Biofuels Alliance (GBA) to accelerate worldwide biofuels adoption. The GBA offers capacity-building across the biofuels value chain, technical support for national programs, policy-sharing and a virtual marketplace connecting technology providers with end-users. Nineteen countries and twelve international organizations, including the World Bank, Asian Development Bank and World Economic Forum, have committed. Member nations represent about 85% of global biofuels production and 81% of ethanol consumption.
India stands to gain significantly, with the United States, Brazil and India at the alliance's forefront. The GBA opens export opportunities for Indian biofuels technology and equipment, fostering economic growth and job creation, and is expected to expedite domestic programs such as PM-JIVAN Yojna, which raise farmers' income and generate employment. The global ethanol market, valued at USD 99.06 billion in 2022, is projected to grow at 5.1% CAGR to over USD 162.12 billion by 2032, expanding opportunity for Indian producers and technology providers.
Indian industry should monitor GBA's development of internationally recognized standards, codes and sustainability principles for biofuels, which will shape trade and adoption. Companies should track opportunities to export technology and equipment and to participate in the alliance's virtual marketplace mapping demand and supply. Stakeholders should follow how the GBA accelerates domestic programs such as PM-JIVAN Yojna, and watch the IEA-projected 3.5–5x biofuels growth by 2050 that signals long-term demand driven by Net Zero targets.
Key figure — Members: 19 countries and 12 international organizations; global biofuels production share: ~85%
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