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India is considered to be a diesel- deficit nation. Its production in India is not as per its rapidly growing demand. In order to overcome this deficiency, bio-diesel startup is the need of the hour in India. As it is considered to be a good substitute for conventional diesel. It is a renewable fuel that doesn’t pollute the environment and can comfortably work on any diesel-powered machine.
From the analysis, it has been predicted that biodiesel production requires an investment of amount INR 20 Lakh -20 crore in India with a profit margin of up to 15%.
It has been predicted from the expert report that the market of Bio-diesel production has increased from $82.7 billion in 2011 to $185.3 billion in 2021. It has also been noticed that there had been a steady growth in 2016 but the rapid increase in production between 2017 and 2021 due to higher oil prices, emerging mandates, and advanced technologies. It has been concluded that global biofuel production will reach 65.7 billion gallons per year (BGPY) by 2021.
To make Bio-diesel, hydrocarbons (i.e oil or fats) are filtered and get mixed with alcohol, which are usually methanol and a catalyst. Ester and glycerol bio-diesel fuel, are the major products of this reaction which have been used for commercial purposes.
Initially, with the implementation of GST 18% is a levy on Bio-diesel and ethanol, which has adversely impact the growth of the industry. The manufacturers applied to the department for reducing the rate to 5%. But currently, it has been reduced from 18% to 12%.
Before initiating a biodiesel production company, it is mandatory to spend time and money on research and feasibility studies related to biodiesel production.
For initiating this business, it is mandatory to prepare a prior business plan that clearly describes business and outlines goals that leads towards the success of the business. It is a document that describes the future of the business.
The decision has to be taken regarding the location where to set up the plant for Bio-diesel Production.
Long-term storage problem, results in the case of untreated biodiesel blendstocks, as they generally exhibit poor oxidation stability, therefore the addition of anti-oxidation additives is necessary to improve its storage stability. In concern of all these problems, it is mandatory, to make prior provisions for Storage and Handling of biodiesel.
It has been analyzed that, in 2016, India has exported 53 million liters of B-100 at an estimated value greater than $27 million. Philippines, China, Malaysia, Spain, Netherlands, UAE, Nepal, and Kenya are the main (re-)export destinations.
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