Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

In response to higher-than-expected tax revenue and a record surplus transfer from the Reserve Bank of India (RBI), the Indian government is considering an 8-10% increase in <keyword id="20018917" type="General" weightage="20" keywordseo="capital-expenditure" source="keywords">capital expenditure</keyword> (capex) for the fiscal year 2025, according to Pantomath Group's quarterly report, "Market Kaleidoscope: Quarterly Market Insights." This adjustment could raise the capex from the previously allocated Rs 11.11 lakh crore, aiming to bolster infrastructure and economic growth. This fiscal boost comes as India reaches a historic financial milestone. The total market capitalization of all stocks listed on the Bombay Stock Exchange (<keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords">BSE</keyword>) briefly surpassed $5 trillion for the first time, placing India among global giants such as the US, China, Japan, and Hong Kong. India's primary market is set for a dynamic period, with 55 companies planning to raise over Rs 68,000 crore through Initial Public Offerings (IPOs). The first half of FY2025 has already seen 35 mainboard IPOs, collectively raising around Rs 32,000 crore with an average subscription rate of 61 times. The Indian market maintained a positive outlook in the first quarter of FY2025, driven by strong Q4FY24 earnings, favorable economic data, and positive global cues. Despite early June volatility following the 2024 <keyword id="19895394" type="General" weightage="20" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword> election results, market sentiment improved with the BJP securing 272 seats and a total of 292 seats for the NDA with allied support. This political stability under Prime Minister Narendra Modi's leadership is expected to promote long-term economic growth, with a focus on infrastructure, electric mobility, startup support, power distribution, digital privacy, and healthcare initiatives. Corporate India's performance in the March quarter of FY2024 met expectations, showing double-digit growth in net profit and single-digit revenue increases. Non-lending companies experienced moderate operating margin expansion due to favorable commodity prices and cost controls. The peaking interest rates and continuity of <keyword id="19978691" type="General" weightage="20" keywordseo="government-policies" source="keywords">government policies</keyword> are anticipated to support healthy corporate growth in FY2025. <h2>Growth to continue</h2>The government's push for increased <keyword id="20068449" type="General" weightage="20" keywordseo="ethanol-production" source="keywords">ethanol production</keyword> targets a 20% blending by 2026, benefiting ethanol-heavy sugar companies and promoting biofuel goals. The real estate market is projected to grow significantly, requiring Rs 14 lakh crore in debt financing from 2024 to 2026. This growth will positively impact the banking and financial sectors. Major telecom operators have raised tariffs post-election, potentially improving sector financials and paving the way for sector re-rating. Major cement players are expanding through acquisitions, with an expected 6-7% compounded growth and market dominance by the top five players by March 2025. FMCG Companies expect recovery in rural business due to factors like a normal monsoon, robust crop yields, and government measures, maintaining robust rural demand. The potential roll-out of the FAME 3 Scheme to support <keyword id="19963112" type="General" weightage="20" keywordseo="electric-vehicle-sales" source="keywords">electric vehicle sales</keyword> is anticipated, with a budgetary allocation of around Rs 10,000 crore. Sectors such as auto, cement, defence, railways, consumer durables, energy, and banking are expected to outperform. Lagging sectors like IT and specialty chemicals offer value-buying opportunities at lower levels. The structural bull market for Indian equity is supported by strong domestic fundamentals and government reforms, with a positive medium- to long-term market outlook. Globally, the US market showed resilience, except for the Dow Jones. The Federal Reserve maintained interest rates at 5.25-5.50%, awaiting inflation to move towards the 2% target before considering rate cuts. The US GDP grew at 1.4% annually in Q1 2024, with mixed economic indicators highlighting both strengths and challenges. The Indian <keyword id="19926041" type="General" weightage="20" keywordseo="IPO-market" source="keywords">IPO market</keyword> has seen significant growth, with a surge in companies seeking to list shares and a rise in capital raised. The first half of 2025 saw strong retail investor participation, reflecting confidence in India's growth prospects. Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Private Limited, said, "Favourable market conditions, high liquidity, a conducive growth environment with stable interest rates, and benign inflation have facilitated a boom in the IPO market. The IPO market will experience a stronger pull post-budget. India is set to become the new equity funding frontier for global corporations." He further added. "We are on the brink of sustained, long-term momentum in the IPO market, with this year potentially becoming the best for IPOs. India's solid macroeconomic environment and promising growth prospects create an ideal backdrop for this vibrant IPO market. Additionally, there is robust participation from both domestic institutional investors and retail investors." With the Indian government's potential capex increase and the robust primary market activity, the <keyword id="19948184" type="General" weightage="100" keywordseo="Indian-economy" source="keywords">Indian economy</keyword> is poised for sustained growth. The upcoming period is expected to see heightened market activity, further IPOs, and economic stability, creating a conducive environment for investment and development.

India may boost FY25 capex by 8-10% amid surging revenues and record RBI surplus, says Market Kaleidoscope report

<ul class="summary-list"><li>Ron DeSantis supported killing a federal mandate that is prized by the ethanol industry.</li><li>DeSantis' past votes are being scrutinized ahead of an expected presidential campaign.</li></ul>Florida Gov. Ron DeSantis' potential bid to dethrone former President Donald Trump could hit a critical snag in Iowa, home to the first-in-the-nation caucuses. DeSantis, like many other House conservatives, was previously opposed to a federal mandate that has helped spur domestic ethanol production. As a Floridian, he faced little to no cost for such a view. As a now likely future presidential candidate, he will have some explaining to do.<h2>DeSantis voting record is already a punching bag </h2>DeSantis' potential rivals have already <a href="https://www.businessinsider.com/ron-desantis-voting-record-vulnerabilities-congress-2024-trump-biden-2023-2">begun tearing into his record</a>. He hasn't even announced a campaign yet.Former President Donald Trump and President Joe Biden <a href="https://www.businessinsider.com/ron-desantis-voting-record-vulnerabilities-congress-2024-trump-biden-2023-2">have made it clear</a> that they'll go after his votes to <a href="https://www.businessinsider.com/biden-leans-into-attacking-gop-on-medicare-and-social-security-pre-2024-2023-2">fundamentally change Medicare and Social Security</a>. Former UN Ambassador Nikki Hayley, the only other major GOP candidate at the moment,<a href="https://www.usatoday.com/story/news/politics/2023/02/17/washington-congress-live-news-updates/11273697002/" target="_blank" rel="noopener"> blasted DeSantis</a> for not going far enough with a parental education rights bill that critics tagged as "Don't say gay." While New Hampshire Gov. Chris Sununu <a href="https://www.nytimes.com/2023/02/20/us/politics/chris-sununu-republican-president-2024.html" target="_blank" rel="noopener">went after the Floridian</a> for targeting private businesses, a likely nod to Florida's efforts to punish Disney after the company criticized the parental rights bill.But primaries are not won in debates; they're won in states. One of those states is Iowa, and one bill in particular could jeopardize his fate there. Less than a year before he announced his gubernatorial run, the then-Florida congressman <a href="https://www.congress.gov/bill/115th-congress/house-bill/1314/text?s=1&amp;r=1" target="_blank" rel="noopener">co-sponsored legislation in 2017</a> that would have immediately ended the Renewable Fuel Standard, a mandate that requires renewable fuel to be blended into the nation's fuel supply. The federal mandate applies to multiple categories of biofuels, but it's main requirements are met by corn starch ethanol. Iowa produces more corn than any other state, and a majority of that crop is processed into ethanol along with the byproducts such as livestock feed."If you come to Iowa, you're going to talk about agriculture," Monte Shaw, the executive director of the Iowa Renewable Fuels Association, told Insider. "Over 60% of Iowa's corn crop, which is, of course the largest in the country, goes into an ethanol plant."<div type="image" title="A corn field by an ethanol plant in Nevada, Iowa" height="1249" width="2500" msid="98321148" hostid="261" sizebytes="144088"></div>The bill, written by then-Rep. Bob Goodlatte of Virginia, would have immediately ended the mandate. The mandate is <a href="https://www.feinstein.senate.gov/public/index.cfm/2021/7/feinstein-toomey-menendez-collins-introduce-bipartisan-bill-to-repeal-ethanol-mandate" target="_blank" rel="noopener">not without its detractors</a>. Some conservatives have long loathed it since it's a government mandate on private industry, while <a href="https://www.motherjones.com/environment/2023/01/new-epa-biofuel-standards-ethanol-environmentalists-unhappy/#:~:text=Under%20the%20RFS%2C%20renewable%20fuels,than%20the%20energy%20they%20replace." target="_blank" rel="noopener">some environmentalists question</a> if boosting ethanol is the most environmentally sound policy."He was a congressman from Florida, probably hadn't been to Iowa, probably hadn't toured an ethanol plant, probably hadn't talked to a whole lot of corn growers, quite frankly," Shaw said. "Do I like the fact that this is track record? No. I don't want anyone to dislike ethanol. Is that a deal-breaker? Hell no."Iowa looms large over the modern presidential primary and caucus calendar. At the very least, any candidate who wants to topple Trump will need to finish near the top in the state.<h2>DeSantis won't be alone in facing questions</h2>Trump's own administration was hammered over its handling of the renewable fuel standard. Both of Iowa's Republican senators, Chuck Grassley and Joni Ernst, repeatedly sought to play the then-president against his EPA administrators. The Environmental Protection Agency is <a href="https://crsreports.congress.gov/product/pdf/R/R43325" target="_blank" rel="noopener">responsible for setting standard.</a> The agency also fields requests from smaller oil refiners, which are allowed to ask for waivers if they can prove that the mandate is financially harmful. "Once again, EPA is playing games and not helping President Trump with farmers. An agreement was reached on September 12 in an Oval Office meeting between several Midwest leaders, President Trump and other members of his Administration," <a href="https://www.grassley.senate.gov/news/news-releases/grassley-ernst-statements-epa-s-2020-rfs-rule" target="_blank" rel="noopener">Grassley and Ernst said in a 2019 statement.</a> "This does not reflect what we agreed to in that meeting."Shaw deemed Trump a "mixed bag." He praised the Trump administration for moving to allow a higher-blend of ethanol to be sold at gas stations year-round. Like Iowa's senators, he was also deeply frustrated by how Trump's EPA enforced the renewable fuel standard.Then again, Donald Trump did win the 2016 nomination without Iowa.Former Secretary of State Mike Pompeo, who is weighing a 2024 campaign, may be in more hot water among Iowans.Pompeo took a strong position against a key tax credit for wind energy during his time in Congress. Pompeo delighted in leading the <a href="https://www.politico.com/story/2013/04/stabenow-pompeo-wind-energy-tax-credit-090559" target="_blank" rel="noopener">struggle</a> against <a href="https://www.spokesman.com/stories/2012/nov/13/governors-call-for-renewing-wind-energy-tax-credit/" target="_blank" rel="noopener">the Wind Production Tax Credit,</a> a policy so close to Grassley that the Iowa senator is often called the "father" of it. Iowa is also the<a href="https://www.eia.gov/state/?sid=IA" target="_blank" rel="noopener"> nation's second-largest producer of wind energy.</a> The then-Kansas lawmaker took a strong philosophical stance against government support of specific renewable sources. <h2>No state produces ethanol — or headaches for the GOP — like Iowa does</h2>Iowa is the <a href="https://www.eia.gov/todayinenergy/detail.php?id=53539#:~:text=As%20of%20January%201%2C%202022,%2Fy)%20from%20275%20facilities." target="_blank" rel="noopener">nation's largest ethanol producer.</a> Forty-one plants are based in the state, stretching all the way from Council Bluffs and the Nebraska border to the West to Muscatine and the Illinois border to the East. Last year, the Iowa Renewable Fuels Association said that the state <a href="https://www.desmoinesregister.com/story/money/business/2023/01/10/amid-growing-demand-ethanol-production-in-iowa-sets-recod-group-says/69793252007/" target="_blank" rel="noopener">set another record</a> as it produced 4.5 billion barrels of ethanol. In 2021, the last year for which there is full data, the US in total produced 15 billion barrels.The marriage between a once-nascent industry and Iowa's raw political power is so well known that The West Wing <a href="https://westwing.fandom.com/wiki/King_Corn" target="_blank" rel="noopener">devoted a whole episode</a> to the question of whether aspiring presidents would shuck aside their past views for a chance to win.Shaw said that there are many "myths" about the standard and the caucuses, rejecting that there are any sort of "kiss the ring" moments. Instead, he said his organization uses the caucuses as a tool to educate candidates."Believe me, I wish it was that easy, right?" he said. "It's not what it's like at all. The ethanol industry isn't here because of the Iowa caucuses, we're here because we're the world's cheapest source of fuel octane."McCain spent years ripping federal support of ethanol, including a now-expired subsidy before <a href="https://money.cnn.com/magazines/fortune/fortune_archive/2006/11/13/8393132/index.htm" target="_blank" rel="noopener">slightly softening his stance.</a> As McCain would often say in the state, "I do have a glass of ethanol every morning with Chuck Grassley." But the era of "King Corn" may be ending. <div type="image" title="Ted Cruz speaks to supporters after winning the 2016 Iowa Republican caucuses" height="1249" width="2500" msid="98321149" hostid="261" sizebytes="123094"></div>Texas Sen. Ted Cruz <a href="https://www.desmoinesregister.com/story/news/elections/presidential/caucus/2016/01/19/branstad-says-he-wants-cruz-defeated-iowa/79003590/" target="_blank" rel="noopener">was hammered for months </a>on the campaign trail for wanting to phase out the Renewable Fuel Standard. <a href="https://www.politico.com/story/2016/01/ted-cruz-ethanol-217417" target="_blank" rel="noopener">He appeared to soften his position</a>, though his campaign pushed back on the idea he was changing his views. Ultimately, he emerged victorious, the only Republican not named Donald Trump to win one of the four early states in 2016. He also did so without ever explicitly promising the entirety of what the biofuels industry would want.Iowa is all about the expectations game. Media attention on the top finishers is only likely to increase amid the prospect that it will be Trump's first time on a ballot since losing the 2020 election. Delegate allocation rules mean that no candidate is anywhere close to the nomination even if they emerge victorious, but a poor finish could doom a campaign. For now, whether DeSantis has changed his mind since his time in Congress remains unclear. Representatives for the governor did not respond to Insider's request for comment.

Ron DeSantis' past views could come back to bite him in Iowa, a critical state for any GOP challenger to Trump

<ul><li><keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> mainly relies on oil imports, which make up about 80% of its current oil consumption</li><li>Rising oil prices also have a bearing on the Indian Rupee which reached a record low earlier this week</li><li>India has a stated ambition of reducing its dependence on oil </li></ul> Prices of <keyword id="6367091" type="UNKNOWN" weightage="20" keywordseo="petrol">petrol</keyword> and <keyword id="6356109" type="UNKNOWN" weightage="20" keywordseo="diesel">diesel</keyword> have risen sharply in the last couple of weeks with the both fuels touching record highs. On Tuesday, prices of petrol had risen for tenth day <a href="https://economictimes.indiatimes.com/industry/energy/oil-gas/petrol-diesel-prices-rise-for-the-10th-consecutive-day/articleshow/65665863.cms">straight </a>and as of Tuesday morning petrol <a href="https://www.livemint.com/Money/PwI1JhZlCdGYPaxnE7CkhI/Petrol-diesel-prices-rise-for-the-10th-day-Check-todays-r.html">cost</a> ₹79.31 ($1.11) per litre in <keyword id="66" type="LOCATION" weightage="20" keywordseo="Delhi">Delhi</keyword> and ₹86.72 per litre in Mumbai. The price of diesel stood at ₹71.34 per litre in Delhi and ₹75.74 per litre in Mumbai. The news comes even as the Indian government announcing impressive <a href="https://www.businessinsider.in/India-overtakes-China-to-become-the-worlds-fastest-growing-economy-in-Q1-2018/articleshow/65653486.cms">GDP growth</a> numbers for the first quarter of 2018, growing at 8.2%. Rising crude prices and falling rupee India mainly relies on oil imports, which make up about 80% of its current oil consumption. Global crude oil prices have been on the uptick in recent weeks because of a supply <a href="https://economictimes.indiatimes.com/industry/energy/oil-gas/oil-prices-poised-for-further-hike-international-energy-agency/articleshow/65614389.cms">shortage </a>in Venezuela and rising demand elsewhere. Crude oil prices <a href="https://economictimes.indiatimes.com/industry/energy/oil-gas/fuel-prices-set-new-record-on-fall-in-rupee-surge-in-global-crude-oil/articleshow/65650709.cms?utm_source=contentofinterest&amp;utm_medium=text&amp;utm_campaign=cppst">rose </a>by $7 a barrel in just the last couple of weeks. Crude oil prices had been relatively<a href="https://www.reuters.com/article/global-oil/oil-prices-stable-on-healthy-demand-but-oversupply-looms-later-in-2018-idUSL8N1QX015"> stable</a> earlier this year. Meanwhile, the rupee has been in free fall in part because of the global oil prices and recent economic crisis in Turkey. On Wednesday, rupee posted a record low of ₹71 against the dollar. The value of Indian rupee has <a href="https://www.bbc.com/news/business-45369884">slipped </a>by 10% since the beginning of the year because of fears of India’s increasing trade deficit and rising global oil prices. A weak rupee also makes it more expensive to import goods and commodities priced in US dollars. Last year, India shifted to the practice of revising fuel prices on a daily basis from an earlier practice of reviewing twice a month. The former was enacted by <keyword id="6354412" type="DOMAIN" weightage="20" keywordseo="indian-oil">Indian oil</keyword> marketing companies to bring it in line with the daily fluctuations in crude oil and what other developing countries follow. What about alternative fuels? India has a stated ambition of reducing its dependence on oil with the government aiming to have 30% of cars <a href="https://www.bloombergquint.com/business/2018/03/08/india-says-never-targeted-100-electric-mobility-by-2030-scales-down-aim#gs.LqrO=_I">running</a> on electricity by 2030. Biofuels derived from vegetable sources is another potential alternative however the supply currently lags because of limited availability of raw materials. The Indian government has also been pushing for the adoption of <keyword id="53632" type="PERSON" weightage="20" keywordseo="biofuel">biofuel</keyword>s for many years and in 2003 set the target of blending petrol and diesel with 10% of ethanol sourced from <keyword id="31653" type="DOMAIN" weightage="20" keywordseo="sugar">sugar</keyword> molasses. Biofuel could potentially be manufactured from waste foodgrains and even <a href="https://economictimes.indiatimes.com/news/et-explains/rotten-potatoes-thats-the-governments-answer-to-your-rising-fuel-bill/articleshow/65656298.cms">rotten potatoes.</a> However, challenges still remain for these fuels for the foreseeable future.

Why are petrol and diesel prices spiking if the economy is in recovery?

State-owned <keyword id="20039950" type="General" weightage="20" keywordseo="Bharat-Petroleum-Corporation" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharat Petroleum Corporation" meta.hostid="153" meta.entityid="Bharat Petroleum Corporation">Bharat Petroleum Corporation</keyword> plans to invest Rs 1.7 lakh crore over the next five years to grow its core oil refining and fuel marketing business as well as in 'future big bets' of <keyword id="20115883" type="General" weightage="20" keywordseo="petrochemicals" source="keywords">petrochemicals</keyword> and <keyword id="19895435" type="General" weightage="20" keywordseo="green-energy" source="keywords">green energy</keyword>, its chairman G Krishnakumar has said. At present, Bharat Petroleum Corporation Ltd (<keyword id="19908646" type="General" weightage="100" keywordseo="BPCL" source="keywords" meta.keywordsubtype="org" meta.entityname="BPCL" meta.hostid="153" meta.entityid="BPCL">BPCL</keyword>) owns about 14 per cent of India's oil <keyword id="20064251" type="General" weightage="20" keywordseo="refining-capacity" source="keywords">refining capacity</keyword> and about a quarter of the fuel retailing network. It plans to grow these businesses while foraying into newer areas. The firm is now implementing the first phase of a multi-decade aspirational journey in the form of '<keyword id="22826627" type="General" weightage="20" keywordseo="project-Aspire" source="keywords">Project Aspire</keyword>' - its five-year strategic framework that is based on two fundamental pillars - 'Nurturing the Core' and 'Investing in Future Big Bets', he said in the company's latest annual report. "Our mid-term strategy is on a continuum. While we remain committed to growing our core businesses, which include refining and marketing <keyword id="20037698" type="General" weightage="20" keywordseo="petroleum-products" source="keywords">petroleum products</keyword> and upstream, we are equally focused on our big bets comprising petrochemicals, gas, green energy, non-fuel retail, and digital. "Project Aspire, with a planned capex outlay of around Rs 1.70 lakh crore over five years, will enable us to create long-term value for our stakeholders while preserving our planet for future generations," he said. "A cornerstone of our long-term strategy, Project Aspire, with a Rs 1.70 trillion investment, marks the initial phase of our multi-decade odyssey to shape the energy of tomorrow. This, coupled with our robust balance sheet, fuels our ambition to lead the <keyword id="19951336" type="General" weightage="20" keywordseo="energy-transition" source="keywords">energy transition</keyword>." The company is targeting net zero carbon emissions from its operations by 2040. "BPCL has drawn a net-zero roadmap, which encompasses renewable power, green hydrogen, compressed biogas, carbon capture, utilisation, and storage (CCUS), efficiency improvement and the offsets procurements. This would require a phased capital outlay of approximately Rs 1 lakh crore till 2040, and the company is geared for the same," he said. The firm's bet on continuing investing in core businesses is based on the premise that India's booming economy will drive a 4-5 per cent annual increase in energy demand and petroleum product consumption. Also, the demand for major petrochemical products is expected to rise by 7-8 per cent annually. "This presents a strategic opportunity to expand refining capacity alongside the development of integrated petrochemical complexes," he said. BPCL is implementing new petrochemical projects at two of its three oil refineries. A Rs 49,000 crore ethylene cracker project is being implemented at the Bina refinery in Madhya Pradesh, alongside raising oil refining capacity from the current 7.8 million tonnes to 11 million tonnes annually by 2029. A polypropylene project is being set up at Kochi refinery in Kerala by 2027. "To meet the anticipated demand beyond our planned expansions in Bina and Kochi, we are actively evaluating options for setting up additional integrated refining and petrochemical capacities within the next 5-7 years," Krishnakumar said without disclosing either the investments or the location of such a project. Andhra Pradesh is being speculated as the likely site after Prime Minister Narendra Modi's BJP and regional party TDP stormed to power in the state in recently concluded assembly elections. TDP has been demanding the implementation of a refinery-cum-petrochemical complex that was promised as part of the package when the state was split more than a decade back. "Our investment in the petrochemical project is consistent with our aspiration of becoming a dominant player in India's petrochemical growth story," Krishnakumar said. On energy transition, he said BPCL is targeting to build 2 gigawatts (GW) of <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> capacity by 2025 and 10 GW by 2035. "We are investing nearly Rs 1,000 crore to establish two 50 MW captive wind power plants in Maharashtra and Madhya Pradesh, which will support our refineries in Mumbai and Bina." The firm is also investing around Rs 300 crore in 72 MWp of solar project in Prayagraj, Uttar Pradesh. "Concomitantly, we are executing green hydrogen projects aligned with the National Green Hydrogen Mission. These projects include a 5 MW electrolyser plant at Bina refinery and a green hydrogen refuelling station with an indigenously developed electrolyser at Kochi," he noted. BPCL, he said, is committed to supporting the transition to electric mobility through a robust and accessible charging infrastructure. The company has installed over 3,000 charging stations, including fast chargers for cars and two-wheelers. 900 fast chargers are installed across 120 highway corridors, which helps address the range, discovery and time anxiety of electric vehicle (EV) owners. "Over the next five years, we aim to install 4-wheeler fast chargers at approximately 6,000 retail outlets across 400 highway corridors, prioritising high-traffic corridors like the Golden Quadrilateral and N-S/E-W highways," he said. On biofuels, he said BPCL sells petrol with 20 per cent ethanol blend at 4,279 out of its over 22,000 petrol pumps. It is also building compressed biogas plants using municipal solid waste to make gas that can be used as CNG in automobiles. The firm is also exploring partnerships in the arena. "These combined efforts, along with the upcoming commissioning of a bio-ethanol refinery, positions BPCL as a key player in India's transition to a greener fuel mix, creating a robust ecosystem for the adoption of cleaner fuels across the country," he added. BPCL is establishing a corporate venture capital fund to invest directly in promising startups. "In order to thrive in this complex and challenging business landscape, we will leverage our agility and focus on operational excellence to ensure continued success. Safety and reliability will remain our top priorities, guiding all our actions. We are committed to upholding the highest standards of corporate governance," he added. He said the energy sector of India stands at an inflection point. "The nation has an ambitious vision of becoming a USD 30 trillion developed economy by 2047. 'Viksit Bharat @2047' will necessitate an almost fourfold increase in primary energy demand." India's exponential growth trajectory will propel it to a pivotal role in the global energy market, accounting for roughly 12 per cent of world energy consumption by 2047. "The key strategic objectives for India in the energy sector will entail significant expansion in refining capacities, raising the share of gas in the energy basket from about 6 per cent to 15 per cent, establishing leadership in petrochemical exports, and sharply reducing energy imports from current levels of 47 per cent to below 25 per cent by 2030 and to zero by 2047," he said. India is targeting 500 GW of non-fossil fuel energy capacity, sourcing half of its energy needs from renewables, reducing carbon emissions by 1 billion tonnes and lowering carbon intensity by 45 per cent by 2030 with the ultimate goal of net-zero emissions by 2070. "Building on its strong Indian energy presence, BPCL aspires to meet 7-10 per cent of the nation's primary energy demand by 2047," he said.

BPCL planning Rs 1.7 lakh crore spend to expand core business, new energy foray over next five years

New Delhi, India on Saturday announced the launch of the <keyword id="16473623" type="General" weightage="20" keywordseo="Global-Biofuel-Alliance" source="Orion">Global Biofuel Alliance</keyword> and urged G20 nations to join the initiative with a plea to take ethanol blending with petrol globally to 20 per cent. Speaking at the G20 Summit session on 'One Earth', Prime Minister <keyword id="6354477" type="General" weightage="80" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> also proposed launching the 'G20 Satellite Mission for Environment and Climate Observation' and urged leaders to commence work on the 'Green Credit Initiative'. "Today, the need of the hour is that all countries should work together in the field of fuel blending. Our proposal is to take an initiative at a global-level to take ethanol blending in petrol up to 20 per cent," he said. "Or alternatively, we could work on developing another blending mix for the greater global good, one that ensures a stable energy supply while also contributing to climate security," Modi said at the session attended by US President Joe Biden, Saudi Arabia Crown Prince Mohammed bin Salman, and UK Prime Minister Rishi Sunak among others. The prime minister said energy transition is a significant need of the 21st century world considering the challenge of climate change. He said trillions of dollars are required for an inclusive energy transition and that the developed countries play a very crucial role in this. "Along with India, all the countries of the Global South are pleased that developed countries have taken a positive initiative this year, in 2023. Developed countries have expressed their willingness to fulfil their commitment of USD 100 billion for climate finance for the first time," he said. At the Copenhagen UN climate talks in 2009, developed countries had committed to providing USD 100 billion per year by 2020 to support developing countries in combating climate change. However, the wealthier nations failed repeatedly to fulfil this commitment. The Global Biofuels Alliance, which the world's third biggest oil consumer wants to push during its G20 presidency, mirrors the <keyword id="3155010" type="General" weightage="80" keywordseo="international-solar-alliance" source="Orion">International Solar Alliance</keyword> (ISA) piloted by New Delhi and Paris in 2015 to bring clean and affordable solar energy within the reach of all. Earlier this month, Prime Minister Narendra Modi in an exclusive interview told PTI that India's proposal for a global alliance on biofuels among members of the Group of 20 major economies would help accelerate sustainable biofuels deployment in support of the global energy transition. "Such alliances are aimed at creating options for developing countries to advance their energy transitions," he had said. "Biofuels are also important from the perspective of a circular economy. Markets, trade, technology, and policy all aspects of international cooperation are crucial in creating such opportunities," Modi had said. <keyword id="53632" type="General" weightage="80" keywordseo="biofuel" source="Orion">Biofuel</keyword> is a renewable source of energy which is derived from biomass. India, which imports over 85 per cent of its crude oil needs, is gradually building capacity to produce fuel from such items as crop stubble, plant waste, and municipal solid waste. While India is on schedule to double the mixing of ethanol extracted from sugarcane and agriculture waste to 20 per cent with petrol by 2025, it is also setting up dozens of compressed biogas (CBG) plants. The Global Biofuels Alliance is aimed at facilitating cooperation and intensifying the use of sustainable biofuels across sectors, including transportation. Its focus is primarily on strengthening markets, facilitating global biofuel trade, developing concrete policy lesson-sharing and providing technical support for national biofuel programmes worldwide. Such an initiative is also aimed at helping India's transition to alternative fuels and cutting its import bill, as it seeks to achieve its net zero carbon emissions goal by 2070. On the other hand, the ISA aims to mobilise more than USD 1,000 billion of investment needed by 2030 for the massive deployment of solar energy. The <keyword id="69313" type="General" weightage="50" keywordseo="international-energy-agency" source="Orion">International Energy Agency</keyword> (IEA) estimates that global sustainable biofuel production would need to triple by 2030 to put the world's energy system on track towards net zero emissions by 2050. Liquid biofuels provided more than 4 per cent of the total transport energy supply in 2022.

G20 Summit: PM Modi announces launch of Global Biofuel Alliance

<ul><li>M&amp;M, Ashok Leyland and Tata Motors have recovered from their intraday low.</li><li>Gadkari while speaking at a SIAM conference had said that the rising level of pollution is a health hazard for citizens.</li><li>There is no such proposal currently under active consideration by the government, said Gadkari in is clarification</li></ul> The auto index, <keyword id="3540651" type="General" weightage="20" keywordseo="Nifty-Auto" source="Orion">Nifty Auto</keyword>, recovered from its 400 point or approximately 2.5% fall after Union Minister <keyword id="26680" type="General" weightage="50" keywordseo="nitin-gadkari" source="Orion">Nitin Gadkari</keyword> clarified on Tuesday clarified his '10% additional <keyword id="18747014" type="General" weightage="60" keywordseo="GST-on-diesel-vehicles" source="Orion">GST on diesel vehicles</keyword>' comment made earlier in the morning. At the time of updating the story, the index is 1.6% in the red. Auto stocks had fallen sharply after Gadkari said he will seek a "<keyword id="2169429" type="General" weightage="60" keywordseo="pollution-tax" source="Orion">pollution tax</keyword>" in the form of additional <keyword id="6354679" type="General" weightage="80" keywordseo="gst" source="Orion">GST</keyword> of 10% on diesel vehicles and gensets in order to cut down on air pollution. This in turn has dragged the stocks down as most of the commercial vehicles in the country currently run on diesel. At the time of updating, Mahindra and Mahindra is down 1.7% but shown a recovery from the 3.48% slide. Ashok Leyland has now recovered slightly too and is down 2.4% while Tata Motors which had slipped 2.8% is now down 1.8%. The Road and Transport Minister has subsequently clarified his comment on X (formerly Twitter). He said that that there is no such proposal currently under active consideration by the government. <div type="twitter" handle="nitin_gadkari" handlename="nitin_gadkari" favoritecount="0" retweetcount="0" id="1701501884324860043"></div> Earlier, speaking at the 63rd Annual SIAM convention Delhi, the Union Road Transport and Highways Minister said the rising level of pollution is a health hazard for citizens. "I am going to handover a letter to the Finance Minister this evening stating that an additional 10% GST be put on diesel-powered vehicles," Gadkari said. In the passenger vehicle segment, various carmakers including Maruti Suzuki India and Honda have already stopped manufacturing diesel cars. Gadkari said the contribution of diesel cars has already come down drastically in the country and the manufacturers need to stop selling them in the market. Terming diesel as a hazardous fuel, he noted that the country has to import the fuel to meet the demand. "Say goodbye to diesel... Please stop making them, otherwise we will just increase the tax so much that it would become difficult to sell diesel cars" Gadkari said. He said he will propose additional GST on diesel-powered generators as well. Automobiles are currently taxed at 28% GST, with additional cess ranging from 1% to 22% depending on the type of vehicle. SUVs attract the highest GST at the rate of 28% along with a compensation cess at 22%. Gadkari also asked the industry to focus on environment-friendly alternative fuels like ethanol. He also asked the industry to focus on green hydrogen. Explained: <a href="https://www.businessinsider.in/policy/economy/news/what-is-ethanol-blending-current-targets-and-challenges-for-india/articleshow/103460113.cms" data-type="tilCustomLink" target="_blank">What is ethanol blending and what are the challenges faced by India</a>

Auto stocks recover after Gadkari clarifies his '10% additional GST on diesel vehicles' comment

Auto companies may soon be asked to manufacture passenger and commercial vehicles that run on multiple fuel configuration aimed at reducing the use of polluting fossil fuels and cutting down harmful emissions. New guidelines for use of flexible fuel vehicles (FFVs) using flex engines is expected to be issued by the third quarter of current year (<keyword id="5027223" type="COMPANY" weightage="20" keywordseo="FY22">FY22</keyword>) that would specify engine configuration and other changes required in vehicles to conform to stipulated changes in fuel mix. The government is also working on an incentive scheme to promote manufacture and use of flex engines in vehicles. The details would be specified when policy in this regard is unveiled. The use of flexible fuel vehicles (FFVs) is being actively looked at by the government to ensure increased use of bio-fuels for running vehicles, <keyword id="84980" type="COMPANY" weightage="20" keywordseo="petroleum">Petroleum</keyword> Secretary Tarun Kapoor had told <keyword id="105681" type="COMPANY" weightage="20" keywordseo="IANS">IANS</keyword> earlier. An FFV is a modified version of vehicles that could run both on gasoline and doped petrol with different levels of ethanol blends. These are currently being used successfully in Brazil, giving people the option to switch fuel (gasoline and ethanol) depending on price and convenience. In fact, a majority of vehicles sold in Brazil are FFVs. For <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>, FFVs will present a different advantage as they will allow vehicles to use different blends of ethanol mixed petrol available in different parts of the country. The current regulations allow for mixing up to 10 per cent ethanol in petrol. However, due to short supplies and transportation challenges, 10 per cent blended petrol is available only in 15 states while bio-fuel in other states varies between 0 to 5 per cent. FFVs will allow vehicles to use all the blends and also run on unblended fuel. Introduction of FFVs will require adoption of vehicle standards, technologies and retrofitting configurations that will have to be looked at by the Ministry of Heavy Industries. The country is moving quickly in the direction of E-20 or 20 per cent ethanol blended petrol fuel that could be introduced as early as 2023 with a nationwide roll out by 2025. The urgency for policy of vehicle is keeping these goals in mind. For auto companies, introduction of FFVs will pose another challenge that they are already facing with the fast adoption of electric vehicles. If standards on FFVs are made mandatory, it would require additional investment in production lines and technology transfers to change the character of the vehicles. Already the use of 10 per cent ethanol blended petrol and introduction of BS VI fuel have added to the cost of making a vehicle. Taking blending to 20 per cent require few minor changes in vehicle configuration, but adoption of FFVs will future proof the design to adopt to any more changes in blending options and configuration. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/google-is-working-on-a-new-app-to-let-you-store-your-medical-records/articleshow/84059948.cms">Google is working on a new app to let you store your medical records</a> <a href="https://www.businessinsider.in/tech/apps/news/battlegrounds-mobile-india-official-download-link-how-to-update-bgmi-rewards/articleshow/84058116.cms">Battlegrounds Mobile India launched officially – here’s how to update, claim rewards and more</a> <a href="https://www.businessinsider.in/business/startups/news/failure-to-pivot-covid-19-blues-force-amazon-backed-shuttl-to-look-for-a-buyer/articleshow/84056797.cms">Failure to pivot, COVID-19 blues force Amazon-backed Shuttl to look for a buyer</a>

Government may issue guidelines for 'flexible fuel' vehicles by October

<ul class="summary-list"><li>Biden said 70% of price increases in March were because of <keyword id="11909347" type="UNKNOWN" weightage="60" keywordseo="putin" source="Orion">Putin</keyword>'s "price hike" in gasoline.</li><li>The US Department of Labor's report said <keyword id="11955852" type="UNKNOWN" weightage="60" keywordseo="gas" source="Orion">gas</keyword> prices were up 18.3% in March after rising 6.6% in February.</li></ul>US <keyword id="11917122" type="UNKNOWN" weightage="60" keywordseo="president-joe-biden" source="Orion">President Joe Biden</keyword> said on Tuesday that the record inflation figures seen in March were largely due to a surge in the price of gasoline following <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>'s invasion of <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword>.Biden was referring to a <a href="https://www.bls.gov/news.release/pdf/cpi.pdf">report</a> by the US Department of Labor, published on Tuesday, which said gas prices were up 18.3% in March after jumping 6.6% in February. It also said consumer prices had risen by 8.5% in March from a year earlier — the biggest 12-month increase since December 1981.Addressing the White House's measures to lower gas prices in a speech at an ethanol mill in Iowa on Tuesday, Biden <a href="https://www.whitehouse.gov/briefing-room/speeches-remarks/2022/04/12/remarks-by-president-biden-on-lowering-energy-costs-for-working-families/">said</a>: "We saw in today's inflation data: 70% of the increase in prices in March came from Putin's price hike in gasoline. We need to address this challenge with an urgency that it demands."In early March, Biden announced that the <a href="https://www.businessinsider.com/biden-us-ban-russian-oil-natural-gas-coal-imports-report-2022-3">US had banned imports</a> of Russian liquefied natural gas, oil, and coal, in response to Moscow's decision to invade Ukraine, stating the US will not "subsidize Putin's war." He said the ban would negatively affect the US, and dubbed the prospect of a higher cost of gas as "Putin's price hike."Russia is the world's third largest producer of crude oil, and the world's second largest exporter, according to the <a href="https://www.iea.org/reports/russian-supplies-to-global-energy-markets/oil-market-and-russian-supply-2">International Energy Agency</a>. The cost of crude surged after the Kremlin ordered its troops into Ukraine, translating into higher prices for petroleum products which are refined from it.In Iowa on Tuesday, Biden said: "Putin's invasion of Ukraine has driven up gas prices and food prices all over the world."In response to the high gas prices, Biden said that the Environmental Protection Agency (EPA) is expected to introduce an <a href="https://www.businessinsider.com/russia-biden-e15-gasoline-fuel-prices-summer-waiver-ethanol-us-2022-4">emergency waiver to allow E15 gasoline</a> — gasoline blended with 15% ethanol — to be sold throughout the US this summer. It's on average $0.10 per gallon cheaper than E10 gasoline, Biden added, although some experts have warned that the lower energy content of E15 means motorists will get lower mileage per gallon and may have to fill up more frequently."You're not going to show up at your local gas station and see a bag over the pump that has the cheapest gas," he said. "You're going to be able to keep filling up with E15."Biden said that families' abilities to fill up their tanks with gas shouldn't "hinge on whether a dictator declares war and commits genocide a half a world away," <a href="https://www.businessinsider.com/biden-says-russia-is-committing-genocide-in-ukraine-for-first-time-2022-4">labelling Russia's actions in the Ukraine war as a genocide</a> for the first time, rather than war crimes.According to the <a href="https://gasprices.aaa.com/">American Automobile Association</a>, the national average price for a gallon of regular gasoline stood at $4.08 on Wednesday. That compares with an average of $4.33 a month ago, and $2.86 at the same point last year.

Biden says 70% of March's record inflation was driven by 'Putin's price hike' in gasoline

<div class="KonaFilter image-container float_right"><div class="image on-image"></div></div>Wisconsin Gov. Scott Walker (R) has recently <a href="http://www.businessinsider.com/scott-walkers-big-moment-in-the-2016-race-2015-2">surged to become one of the leading likely Republican contenders</a> in the 2016 presidential race.And his newfound status seems to have come with a series of pronounced changes to his past positions. In Iowa last weekend, Walker announced a new stance on ethanol subsidies when he told voters in the corn-rich state he supports a federal mandate requiring that the corn-based biofuel be added to gasoline.The pro-ethanol stance was a crowd pleaser for Walker when he <a href="https://www.youtube.com/watch?v=e-EqZyPHWnA">addressed the Iowa Agriculture Summit on March 7</a>, but his support for the Renewable Fuel Standard program is an apparent turn from his previous view that mandates are harmful to the economy.Walker's PAC, Our American Revival, did not respond to a request to comment on claims the governor flip-flopped on the issue. However, it's the latest in a series of policy shifts for the GOP rising star.As he tightens his policy platform in the lead up to a possible 2016 presidential campaign, his past statements on several issues have also been called into question.Here are three areas where Walker's positions have seemingly evolved:<h3 dir="ltr">Renewable Fuels Standard</h3>In 2006, during his first, short-lived, unsuccessful campaign for Governor of Wisconsin, Walker said he would not support an ethanol mandate."It is clear to me that a big government mandate is not the way to support the farmers of this state," <a href="http://www.wispolitics.com/1006/_060307Walker_Ethanol.pdf">Walker said in a campaign radio ad</a>."The free enterprise system must drive innovation to relieve our dependence on foreign oil, not mandates from the state or federal government."On March 7 at the Iowa Agriculture Summit, hosted by agribusiness mogul Bruce Rastetter, Walker sang a different tune when he <a href="http://www.jsonline.com/news/statepolitics/scott-walker-might-clarify-stance-on-ethanol-at-iowa-ag-summit-b99457588z1-295473391.html">was asked about his views on ethanol</a>."It's an access issue, and so it's something I'm willing to go forward on continuing the Renewable Fuel Standard and pressing the EPA to make sure there's certainty in terms of the blend levels set," Walker said, adding, "Now, long term - we've talked about this before as well - my goal would be to get to a point where we directly address those market access issues and I think that's a part of the challenge. So that eventually you didn't need to have a standard."<h3 dir="ltr">Immigration</h3>In 2013, Walker <a href="http://www.wausaudailyherald.com/story/opinion/2015/02/17/scott-walker-immigration-path-citizenship-wausau-interview-amnesty-border/23558209/">told the Wausau Daily Herald</a> "it makes sense" to provide a pathway for illegal immigrants to be granted citizenship, hinting his support for amnesty.However, on March 1, Walker <a href="http://www.foxnews.com/on-air/fox-news-sunday-chris-wallace/2015/03/01/gov-walker-cpac-record-wisconsin-rep-scalise-talks-dhs-funding-fight#p//v/4087171184001">acknowledged to Fox News</a> that he has switched sides on the issue. "My view has changed," Walker said. Walker attributed his shift on amnesty to an increased awareness of the immigration system. "I look at the problems we've experienced for the last few years. I've talked to governors on the border and others out there. I've talked to people all across America," Walker explained. "And the concerns I have is that we need to secure the border. We ultimately need to put in place a system that works. A legal immigration system that works. And part of doing this is put the onus on employers, getting them E-Verify and tools to do that. But I don't think you do it through amnesty."<h3 dir="ltr">Right-to-work</h3>In April 2012, <a href="http://www.wpr.org/walker-denies-wanting-make-wisconsin-right-work-state">Walker told Wisconsin Public Radio</a>, "I have no interest in a right-to-work law in this state.""We're not going to pursue that in the remainder of our term, and we're not going to pursue it in the future. The reason is private-sector unions are my partner in economic development," Walker said.In spite of this pledge, <a href="http://www.wpr.org/wisconsin-becomes-nations-25th-right-work-state">on Monday, the Wisconsin Republican signed</a> a right-to-work law that bans mandatory union dues at private sector businesses. Wisconsin is the 25th state in the U.S. with such a ban."We now have given one more big thing on that checklist to say that Wisconsin is open for business," Walker said this week, touting the new measure. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/barack-obama-doppelganger-indonesia-2015-2">This 40-year-old Indonesian is Obama's doppelgänger</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="d1Y21iczpy9ODsMGFD3MgBIFRpYAWhOw" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Scott Walker keeps changing his mind 

<div class="KonaFilter image-container display-table"><div><div class="image on-image">AvaYou've never seen a winery like this.</div></div></div>Ava Winery's first public taste test didn't exactly go well. Two reporters on camera at<a href="https://www.newscientist.com/article/2088322-synthetic-wine-made-without-grapes-claims-to-mimic-fine-vintages/"> New Scientist</a> compared the biotech startup's artificial wine with a glass of the Moscato D'Asti that it was based on. They complained that the fake wine had too little color, too little viscosity, and an unpleasant plastic smell.But that was May, and this is September, and Ava is already bragging about making huge improvements in its product, to the point where it is all but indistinguishable from fermented grape juice, and looking ahead to how it's going to change the world."What we have done since then is leaps and bounds beyond what they were able to taste back in May," co-founder Alec Lee says. "Now we're at the point where about 90% of people fail out blind taste test."Ava is about to get a lot of new tech, too, after closing a $2.7 million seed round led by Horizon Ventures in August. Lee says this will help them perfect their product and soon."There will be a step-wise progression as soon as that equipment comes in," Lee says. "It will get a lot better very quickly."Ava has promised to release 499 bottles modeled on a 1992 Dom Perignon champagne later this summer, with plans to go to market in the next six-to-12 months. The goal is to sell high quality wine for much cheaper than you'd get with traditional methods, while also making a more sustainable and customizable product.But first, they've got to convince people that artificial wine tastes good.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Ava Winery</div></div></div>Ava co-founder Mardonn Chua was inspired to create wine in a lab after seeing a bottle of a '73 Chateau Montelena behind a glass case and wishing more people could taste what it's like. He thought "I have access to a lab, I have this biotech background, I've done analytical chemistry: surely, wine is nothing more than a collection of molecules," says Lee.Chua and Lee, both graduates for a biotech program at the University of British Columbia who had previously founded a stem cell company (which "may wind down"), launched Ava Winery in 2015. They brought on fellow UBC graduate and certified sommelier Josh Decolongon as a co-founder.Chua's early efforts at reverse-engineering wine were gleefully fast and loose."Has anyone tried to make wine by simply mixing the raw compounds and ingredients together (ie. sugars, alcohol, organic volatiles, and flavonoids)? Would it be possible to make a great tasting wine this way?"<a href="https://www.reddit.com/r/wine/comments/4apx67/science_can_you_make_wine_on_a_compoundbycompound/"> he posted on Reddit</a> in March. "I might actually try this tonight."<a href="https://medium.com/@mardonn/hacking-wine-e5ed219f3605#.8kohk68ki">Chua described on Medium</a> how he mixed "tartaric acid, malic acid, tannin powder, vegetable glycerin, ethanol, sucrose … ethyl hexanoate (smells like pineapple), butanoate (strong scent of grape juice), limonene (citrus/lime), and acetoin (rich butter smell-like popcorn at the movies).""I spent the whole weekend making ~15 different formulations, and I'm not much closer to the taste of chardonnay or any other wine (though I'm not discouraged). It's not a good wine yet, but it was acceptable enough to drink," Chua wrote.Ava has gotten a lot more high-tech since then, using gas chromatography, liquid chromatography, and other techniques to identify exactly what's in different samples of wine. For the past few months, they've been outsourcing this testing, but now they plan to bring the tools in house.Wine is about <a href="https://www.newscientist.com/article/2088322-synthetic-wine-made-without-grapes-claims-to-mimic-fine-vintages/">85% water and 13% ethanol</a>. Then there are several hundred compounds in small quantities that give it flavor, aroma, color, and other characteristics. Some of these matter, others don't."We can identify the compounds that are there, but the big challenge is in quantifying them," Lee says.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Ava WineryWant a sip? A gas chromatograph shows different compounds in a sample.</div></div></div> Ava insists its wine is rapidly getting better. Eight months ago, Lee says, 80% of people could identify the two glasses of artificial wine in a sample of five: today, only 10% can."The product is really there in terms of fooling people, but that's not really good enough for us," Lee says.The team says its two biggest challenges going forward are regulation and marketing."We want to get the classification as wine and that's one of the hurdles that we're up against is convincing the [Alcohol and Tobacco Tax and Trade Bureau (TTB)] that there's good justification for why we should be able to call this wine," Lee says.TTB spokesman Tom Hogue confirmed that the bureau is aware of Ava and said it had reached out to remind them their drink would be a taxable commodity. He declined to comment on whether it would be classified as wine.As for marketing, Ava hasn't decided whether its initial selection of wine will all be designed to replicate other bottles or include some originals. Ava also hasn't figured out its price point, though it claims to be much cheaper than the traditional way of making wine. The hardest part, of course, is convincing people to ditch traditional wine, and all the romantic connotations we have for that, in favor of something made in a lab."We need to first demonstrate the quality of this process," Lee says. "Once we've done that, then we have an opportunity to digitally optimize the flavors of wine. To make wines that have never been tasted before and that are in many ways arguably better than anything that's been tasted before. We can identify the things that make great wines great and combine those into something that's never been tasted before or that no one could even grow."Lab-grown wine, Lee points out, uses 50 to 100 times less water than the traditional version.Synthetic wine may also have the nice perk of not going bad as fast as regular wine, since it's made of sterilized components, while normal wine is filled with organic compounds that start growing when exposed to oxygen.If Ava can figure out wine, then there's no reason they couldn't move into other products, too"Where are unsustainable food production practices happening or where is there limited food production capacity in general, especially in the luxury food market, and how can we disrupt that and produce in a way that is more sustainable, more ethical, and, of course, cheaper?" Lee asks. "Could this be done with coffee, for example, or chocolate?"<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://en.wikipedia.org/wiki/File:Napa_Valley.jpg">Brocken Inaglory on Wiki</a>No more vineyards?</div></div></div>But first the big question: does Ava's wine actually taste good?Ava was not yet ready to share a bottle with Business Insider, so we can't say for ourselves.Scientists at Replica Wine, a less-radical wine disruptor that uses <keyword id="41551" type="ENTERTAINMENT" weightage="60" keywordseo="science">science</keyword> to make grape blends that taste like more expensive bottles, said Ava's approach seemed viable."The concept of adding all kinds of chemicals together to create something else: is it feasible? Probably. Does it have the same appeal to consumers who are looking to have some kind of greater connection to wine? Maybe not," said Ellipse Analytics president Jaclyn Bowen, who works with Replica.Food scientist Steven Witherly, president of Technical Products Inc., was more skeptical: "I wish them luck but wine is way too complex for them; they really don't stand much of a chance."Decanter World Wine Awards judge Matt Walls told Decanter: "The concept is mind-blowing, and I'd love to try the finished article. It reminds me of the drinks machine in 'Star Trek' that dispenses anything you ask for. But do I believe they'll produce an exact replica of a legendary wine? Not in a million light years."Ava's team, at least, seems confident."I think the product will pretty easily be ready to go in the next six months," Lee says.Even today it gets the endorsement of Ava's in-house sommelier. "It's definitely not bad," says Decolongon, who also <a href="http://www.joshlikeswine.com/">runs a wine blog</a>. "I can tell [the difference between Ava and traditional wine], but it's getting closer and closer to being unidentifiable every day." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/this-wine-glass-cannot-spill-2016-3">Thanks to this ingenious glass, you'll never spill wine again</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="E0cHU3MjE6DuytsM5ZGT2xGC1mwvxlH7" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

You Searched For "ethanol blending challenges" and got 11 results

India may boost FY25 capex by 8-10% amid surging revenues and record RBI surplus, says Market Kaleidoscope report

ANI

Ron DeSantis' past views could come back to bite him in Iowa, a critical state for any GOP challenger to Trump

Brent D. Griffiths

Why are petrol and diesel prices spiking if the economy is in recovery?

Rimin Dutt

BPCL planning Rs 1.7 lakh crore spend to expand core business, new energy foray over next five years

PTI

G20 Summit: PM Modi announces launch of Global Biofuel Alliance

PTI

Auto stocks recover after Gadkari clarifies his '10% additional GST on diesel vehicles' comment

BI India Bureau

Government may issue guidelines for 'flexible fuel' vehicles by October

IANS

Biden says 70% of March's record inflation was driven by 'Putin's price hike' in gasoline

Kate Duffy

Scott Walker keeps changing his mind

Leslie Larson

Biotech startup says it has nearly perfected making wine in a lab

Gus Lubin

Full text of President Ram Nath Kovind's first address to the Parliament as the 17th Lok Sabha gets underway

BI India Bureau

Popular Keywords

Buying Guides