The Government on Monday launched the indigenously-developed AVGAS 100 LL, a special aviation fuel meant for piston engine aircrafts and unmanned ariel vehicles.
It has been developed by Indian Oil Corporation.
Minister for Petroleum and Natural Gas Hardeep Singh Puri, while launching the fuel at Hindon air base, said: "We are undergoing a remarkable transformation which is almost revolutionary. We are reducing dependence on imported fuels by promoting biofuel blending, green hydrogen and introduction of electric vehicles."
Currently, India is importing this product from European countries.
Puri said that the launch of indigenous AV GAS 100 LL is important to serve the needs of a thriving aviation industry with increase in footfall at airports, rise in number of aircraft and Flying Training Organisations (FTOs) in trainee aircraft for pilot training in future.
As the demand for air transport in India is expected to increase manifold in the future, there is going to be a huge demand for trained pilots also. And for this, the number of FTOs is also expected to increase significantly, he added.
Indian Oil Corporation Chairman Shrikant Vaidya said: "Indian Oil is proud to introduce this specialised fuel by leveraging our refining strength and in-house expertise. In fact the indigenous fuel is superior compared to the imported grades. AV Gas market is expected to grow from the current $1.92 billion to $2.71 billion by 2029. We plan to set up a new facility soon to target export opportunities, besides catering to the domestic demand. I am confident that the superior quality we offer, combined with competitive pricing, will give us a significant edge in the global market and open a new chapter in India's journey of self-reliance."
The domestic production of AVGAS 100 LL, produced by Indian Oil at its Gujarat refinery. will make flying training more affordable in India, an official statement said.