Vijay Banka, managing director of a major producer of sugar in India, expects the country's push towards greener forms of energy to boost profitability.
His company, Dwarikesh Sugar Industries, can crush 21,500 tonnes of sugar cane a day in its mills. It also produces ethanol – a fuel that is made from the plant.
“The sector is on the threshold of a change,” says Mr Banka.
India wants ethanol to play a bigger role in its energy mix as it looks to more renewable sources to reduce its dependence on expensive oil imports and cut its carbon footprint.
Earlier this month, Prime Minister Narendra Modi brought forward by five years a deadline to achieve 20 per cent ethanol blending in petrol – from 2030 to 2025.
India currently has an 8.5 per cent blending rate to reduce environmental pollution. Mr Modi described ethanol as "one of the major priorities of 21st century India" in his World Environment Day announcement.
Initiatives such as these are all the more pressing as the country – the world's third-largest carbon emitter – has pledged to reduce emissions as part of its commitment to the Paris Agreement on climate change.
There are also economic factors and energy security concerns at work behind the plans of Asia's third-largest economy to mix more ethanol with petrol.
India imports about 76 per cent of the crude it needs and its dependence on imported oil is expected to rise to 90 per cent by 2030.
Expanding demand could double the country's oil import bill to $181 billion by the end of this decade, according to the International Energy Agency.
“The Indian government’s E20 programme targeting 20 per cent ethanol blending in petrol by 2025 not only propagates a low-carbon economy but is a step towards achieving energy security,” says Manish Dabkara, chairman and chief executive at EnKing International, a company that provides services to mitigate climate change.
The push to a greener future comes as India has been grappling with a growing demand for oil that has driven the country's petrol and diesel prices to record highs.
EnKing says the increased ethanol blending will help to bring down the country's oil import bill, reduce its carbon footprint and improve the domestic economy by boosting employment and income.
The government estimates that the initiative would reduce India's vehicle fuel import bill by $4bn annually.
The programme will have the added benefit of allowing farmers to earn more money by selling their crops for ethanol production.
Ethanol in India is largely produced through the fermentation of sugar cane or damaged food grains such as wheat and rice.
Suyash Gupta, director general of the Indian Auto LPG Coalition, says ethanol-blended petrol reduces emissions by 20 per cent and India's move to bring its blending targets forward "illustrates the seriousness with which the authorities are taking up the issue".
The move also show “our country’s commitment to reduce greenhouse gas emission by 33 to 35 per cent, relative to 2005 levels, by 2030”, says Arun Kumar Singh, director of marketing and refineries at Bharat Petroleum Corporation, a government-owned oil and gas corporation.
However, the biggest challenge is to ensure that there is sufficient availability of ethanol to meet the target, according to Mr Gupta.
Sugar mills have ramping up production of ethanol with the help of soft loans from the government for distillation infrastructure.
We are all trying to increase our ethanol capacity so that we are able to get closer to the 20 per cent blending target
To prevent a possible shortage of sugar in the country as mills use more feedstock for ethanol processing, the government needs to boost sugar cane cultivation in four to five states, says Mr Gupta.
“The sugar cane farmers or the sugar industry, in general, would also need to be incentivised enough to invest sufficiently in biofuel plants and food grain-based distilleries,” he says.
As long as the country manages "to ramp up production of sugar cane and ethanol, along with establishing grain-based distilleries in sufficient number, it is likely that India will achieve its target", he says.
Mr Banka says sugar producers have leapt into action with subsidised loans and the industry has responded in "equal measure".
"We are all trying to increase our ethanol capacity so that we are able to get closer to the 20 per cent blending target.”
Dwarikesh Sugar Industries supplied about 30 million litres of ethanol in the past financial year through to the end of March. It now expects to boost its production to 50 million litres in the current financial year as it pushes for its production target of 100 million litres.
“It will definitely help our profits,” says Mr Banka.
An assured buying price from the government would mean there is a guaranteed margin, which is a significant incentive for producers to invest in ethanol production.
The government's revised targets also work in favour of farmers as mills would be willing to pay even higher rates for their crops, Mr Banka says.
Without the ethanol-blending programme, “there, perhaps, might have been a glut-like situation”, he says.
“The objective [of the government] is to see that the sugar production in the country is more or less equal to consumption and if there is a surplus, there is a small surplus that can be exported easily,” says Mr Banka.
India is the world's second-largest sugar producer after Brazil and is a major exporter. However, it could lose its position with the government's push to meet its ethanol targets.
A report by London-based commodity trader Czarnikow Group forecasts that India's plans for ethanol could reduce the country's production of sugar by more than 6 million tonnes, meaning that it would no longer have a massive sugar surplus and be a major exporter.
The move has implications for other sectors of the economy. The country's car industry will have to make adjustments as the corrosive qualities of ethanol mean rubber and plastic parts in vehicles will have shorter lifespans.
Another question being raised is whether India's plans to move towards electric vehicles would mean that there may ultimately be less demand for fuel, including ethanol. How much commercial sense does it make today to invest in fuels that will eventually be phased out?
New Delhi aims for 30 per cent of private cars and 70 per cent of commercially driven cars to be electric by 2030 across the country.
But industry pundits say that the EV sector is still at a very nascent stage in India, It faces challenges such as a lack of charging infrastructure, hence the need for the country to invest in other environmentally friendly solutions.
“While electric vehicles seem to be a good option, their technological and financial feasibility is still several years away for our country,” says Mr Gupta.
Turning sugar cane into fuel could be a more immediate solution to help address India's pollution problem and its drive to reduce its dependence on oil imports, he says.
MATCH INFO
Delhi Daredevils 174-4 (20 ovs)
Mumbai Indians 163 (19.3 ovs)
Delhi won the match by 11 runs
Why your domicile status is important
Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.
Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born.
UK residents who have their permanent home ("domicile") outside the UK may not have to pay UK tax on foreign income. For example, they do not pay tax on foreign income or gains if they are less than £2,000 in the tax year and do not transfer that gain to a UK bank account.
A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.
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The specs: 2018 Chevrolet Trailblazer
Price, base / as tested Dh99,000 / Dh132,000
Engine 3.6L V6
Transmission: Six-speed automatic
Power 275hp @ 6,000rpm
Torque 350Nm @ 3,700rpm
Fuel economy combined 12.2L / 100km
What is the definition of an SME?
SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.
A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors.
How tumultuous protests grew
- A fuel tax protest by French drivers appealed to wider anti-government sentiment
- Unlike previous French demonstrations there was no trade union or organised movement involved
- Demonstrators responded to online petitions and flooded squares to block traffic
- At its height there were almost 300,000 on the streets in support
- Named after the high visibility jackets that drivers must keep in cars
- Clashes soon turned violent as thousands fought with police at cordons
- An estimated two dozen people lost eyes and many others were admitted to hospital
Killing of Qassem Suleimani
MATCH INFO
England 19 (Try: Tuilagi; Cons: Farrell; Pens: Ford (4)
New Zealand 7 (Try: Savea; Con: Mo'unga)
More on animal trafficking
More on animal trafficking
More from Rashmee Roshan Lall
A little about CVRL
Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
One of its main goals is to provide permanent treatment solutions for veterinary related diseases.
The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery.
Match info
Champions League quarter-final, first leg
Liverpool v Porto, Tuesday, 11pm (UAE)
Matches can be watched on BeIN Sports
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
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The flights: South African Airways flies from Dubai International Airport with a stop in Johannesburg, with prices starting from around Dh4,000 return. Emirates can get you there with a stop in Lusaka from around Dh4,600 return.
The details: Visas are available for 247 Zambian kwacha or US$20 (Dh73) per person on arrival at Livingstone Airport. Single entry into Victoria Falls for international visitors costs 371 kwacha or $30 (Dh110). Microlight flights are available through Batoka Sky, with 15-minute flights costing 2,265 kwacha (Dh680).
Accommodation: The Royal Livingstone Victoria Falls Hotel by Anantara is an ideal place to stay, within walking distance of the falls and right on the Zambezi River. Rooms here start from 6,635 kwacha (Dh2,398) per night, including breakfast, taxes and Wi-Fi. Water arrivals cost from 587 kwacha (Dh212) per person.
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TUESDAY'S ORDER OF PLAY
Centre Court
Starting at 2pm:
Elina Svitolina (UKR) [3] v Jennifer Brady (USA)
Anastasia Pavlyuchenkova (RUS) v Belinda Bencic (SUI [4]
Not before 7pm:
Sofia Kenin (USA) [5] v Elena Rybakina (KAZ)
Maria Sakkari (GRE) v Aryna Sabalenka (BLR) [7]
Court One
Starting at midday:
Karolina Muchova (CZE) v Katerina Siniakova (CZE)
Kristina Mladenovic (FRA) v Aliaksandra Sasnovich (BLR)
Veronika Kudermetova (RUS) v Dayana Yastermska (UKR)
Petra Martic (CRO) [8] v Su-Wei Hsieh (TPE)
Sorana Cirstea (ROU) v Anett Kontaveit (EST)
Killing of Qassem Suleimani
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
The Melbourne Mercer Global Pension Index
The Melbourne Mercer Global Pension Index
Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.
The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.
“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.
“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”
Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.
Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.
“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.
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Chef Nobu's advice for eating sushi
“One mistake people always make is adding extra wasabi. There is no need for this, because it should already be there between the rice and the fish.
“When eating nigiri, you must dip the fish – not the rice – in soy sauce, otherwise the rice will collapse. Also, don’t use too much soy sauce or it will make you thirsty. For sushi rolls, dip a little of the rice-covered roll lightly in soy sauce and eat in one bite.
“Chopsticks are acceptable, but really, I recommend using your fingers for sushi. Do use chopsticks for sashimi, though.
“The ginger should be eaten separately as a palette cleanser and used to clear the mouth when switching between different pieces of fish.”
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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UAE currency: the story behind the money in your pockets
