India’s biofuel production has exhibited robust growth from 2013 to 2023. Starting at 4.52 thousand barrels of oil equivalent per day in 2013, production reached 50.55 by 2023. Significant year-on-year variations occurred, including a major uptick between 2021 and 2022 with a 51.38% increase, followed by a 24.49% rise in the following year. The five-year CAGR leading to 2023 stood at 22.22%. For the forecast period from 2024 to 2028, a steady growth trend is evident, with an anticipated average annual increase of 9.53%, signifying a 57.67% surge over the entire forecasted period.
Future trends to watch for include advancements in biofuel technology, government policies promoting renewable energy, and investments in infrastructure to support increased biofuel production and distribution. These factors are likely to sustain the positive growth trajectory.
