The war in West Asia has led to an increase of 40% in the international prices of bitumen and as India imports 54% of the key road construction input, use of alternates can help, minister of Road Transport and Highways Nitin Gadkari said Thursday.
India’s annual bitumen requirement is 110 tonnes annually of which 60 lakh tonnes is imported but with bio bitumen, use of rubber dust from used tyres and waste plastic imports can be reduced, he said at All India Management Association’s leadership Conclave.
“With 30% bio bitumen from agriculture waste, 16% rubber powder and 7% waste plastic we would not need imports,” Gadkari added.
Around 15 companies have acquired rights to use the patent of bio bitumen that was developed by Central Road Research Institute (CRRI) and Indian Institute of Petroleum and its production would increase manifold in coming years.
After the war in West Asia started, bitumen prices in India have skyrocketed from roughly to over Rs 54,000-Rs 76,000 per tonne from Rs 40,000 per tonne, heavily impacting infrastructure project budgets. The increase in the price of bitumen is due to sharp rise in prices of crude oil from which it is distilled.
For rubber powder the easier imports of used tyres is being considered, the minister said.
“Our thought is to reduce whatever we are importing and increase exports. In the coming years sky is the limit in exports.”
He said the Indian auto industry has become the third largest in the world in the past ten years and in the coming five years the target is to make it to the top in the world. India’s auto industry’s size is Rs 22 lakh crore, the US is Rs 79 lakh crore and China’s Rs 49 lakh crore.
He also spoke of reducing imports of fossil fuels that are around Rs 42 lakh crore annually by increasing the blending of auto and aviation with ethanol and use of alternate fuels like hydrogen.
“Diversification of the agriculture sector into the energy and power sector is our theme… Till the share of agriculture in the economy increased to 24-25% from 14% now India cannot become self reliant,” Gadkari added.
TOPICSexportThis article was first uploaded on April ten, twenty twenty-six, at nineteen minutes past twelve in the am.