Bengaluru: Karnataka could attract investments exceeding ₹1 lakh crore in the next five years with the implementation of a comprehensive biofuel policy, said S. E. Sudhindra, Chairman, Karnataka State Biofuel Development Board, on Saturday.
Presenting the biofuel action plan, sector investment potential, and a report on his one-year tenure to Deputy Chief Minister D.K. Shivakumar at Vidhana Soudha, Sudhindra emphasized the urgent need for a dedicated biofuel policy to harness Karnataka’s renewable energy strengths.
“If the government approves the proposed policy, it will include attractive incentives, subsidies, and infrastructure support for production units. This could potentially lead to over ₹1 lakh crore in investment over the next five years,” Sudhindra said in an official statement.
He noted Karnataka’s significant potential in alternative fuels, green energy, and climate-friendly technologies, underscoring the importance of facilitating investor interest through policy interventions.
Deputy CM D.K. Shivakumar assured the Board of full government cooperation, saying, “The state government will extend complete support at every stage to develop and promote the biofuel sector.”
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