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India aims to cut oil imports by $1.74 billion by using biofuels, says Narendra Modi

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India aims to cut oil imports by $1.74 billion by using biofuels, says Narendra Modi

India aims to cut oil imports by $1.74 billion by using biofuels, says Narendra Modi
India aims to cut down its oil import bill by Rs 12,000 crore ($1.74 billion) through increased use of biofuels, Prime Minister Narendra Modi said on Friday.
The South Asian nation, which imports up to 80 percent of its oil needs, plans to invest Rs 10,000 crore and would build 12 biofuel refineries, Modi said.
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