India to be Net Energy Exporter in 6-7 Years

New Delhi, Jun 26 (PTI) Union minister Nitin Gadkari on Thursday said that India will become the net exporter of energy in next six to seven years.

Speaking at Times Event here, the minister of Road Transport and Highways, said: "Today we are the importer of the energy but within six to seven years we will be exporter of the energy."

Stressing that hydrogen is the fuel of the future, he said the government is encouraging alternative fuel and biofuel such as ethanol, biodiesel, electric vehicles, and hydrogen.

Changing fuel will not only reduce pollution but will also bring down logistic cost, he said and added that by making new roads and change in fuel our logistic cost will be in single digit and come down to nine per cent by the end of the current year.

"I am confident that by making new roads and change in fuel our logistic cost will be in single digit, that is nine per cent and by the end of this year," he said.

The latest survey, the minister said, indicates that India's logistic cost has reduced by six per cent.

"Today in the world the logistic cost in China is eight per cent as compared with the GDP, in the US and European countries it is 12 per cent and in India it was 16 per cent but now the things are moving fast," Gadkari said.

The minister also made an appeal to go for alternative fuel or bio fuel and it is economically viable.

"India is the fastest growing economy. We need to increase our export and for that reason we need to reduce our logistic cost," Gadkari said.