You are currently viewing India ranks fifth as the largest economy and leaves the UK behind – Know Biofuel’s role in that

India ranks fifth as the largest economy and leaves the UK behind – Know Biofuel’s role in that

Global warming is real! Climate change not only encompasses an upswing in hot weather or abnormal climate, but also disruption in wildlife habitats, melting glaciers, rising seas, and much more. Taking into account the current situation of our planet, global warming can gulp down our earth at any time.

Globally warming is rising at an alarming rate, and the mere reason behind its elevation is irresponsible actions of humans. Climate change will be an eternal problem till humans stop adding greenhouse gases to the atmosphere. Many species are going extinct, and some regions are witnessing droughts, yet people are not taking responsible measures to dwindle the global typhoon that we humans are creating.

The eradication of global warming will be a gradual process yet a vital one, and that’s why people are uniting to make sustainable moves. Sustainability is the foremost way of reducing toxicity in our ecosystem. Toxic emissions are one of the major reasons behind Climate change. Every day the quality of air is deteriorating, and many cities frequently get covered in thick smog, which is why many popular countries are opting for Biodiesel.

Not only does Biofuel make the environment healthier, but it also makes the economy bulkier, and India is the greatest example of that.

A decade back, India was ranked 11th among the large economies, and the UK ranked fifth, fast forward to now India overtook the UK and ranked fifth while the UK currently ranks sixth. India is only behind the US, China, Japan, and Germany.  By using the IMF database and dramatic changes, Bloomberg in its report has concluded that,

“On an adjusted basis and using the dollar exchange rate on the last day of the relevant quarter, the size of the Indian economy in ‘nominal’ cash terms in the quarter through March was $854.7 billion. On the same basis, the UK was $816 billion”.

What is the connection of Biodiesel with India’s augmenting economy?

What caused the Indian economic boom and left the UK behind is probably the most interesting question, but considering the statistics, it is pretty clear why the Indian economy is growing. The majority of the national income is earned by the service sectors. The expansion of services has grown immensely over a few years, and so are the job opportunities. India is amongst the prominent countries that is currently walking on a sustainable pathway with mega sincerity. India is empowering Biofuel production with full force. India’s push for a greener and healthier planet has led to a stronger economy because more Biodiesel plants, the more employment opportunities there will be.

The Government of India has a multi-pronged strategy to empower and expand Biofuel production to reduce imports and empower domestic production of fuels. Currently, India has more imports than exports, and to change that is the Government’s primary goal.

Prime Minister Modi is empowering Biofuel plants in all parts of the country to generate production and usage of Biofuels in the country to a larger extent. India’s vision is waste-to-wealth which means utilising waste products for the production of Biofuels. This will not only make our environment healthier, but it will also open doors for employment which is also related to the boost in the economy. It will help farmers generate a stable income, it will help the tech team grow, and it will encourage everyone to stop wasting potential Biodiesel feedstocks like used cooking oil.

Along with other countries, the Indian Government has made many plans that aim to cut down human-made destruction. The Indian Government has passed guidelines under FSSAI (Food Safety and Standard Authority) that used cooking oil that is beyond safety level should not be seen in the kitchen. UCO should not be disposed of irresponsibly rather it should be donated or sold to registered Biodiesel manufacturers. This strategy too acts as a service provider, thus amplifying the growing economy.

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