Saturday, October 28, 2006

Bio-fuels Fuel Imagination Of The Entrepreneurs Of Tomorrow

When I started blogging about 4 months back, I initially started writing on topics such as human behaviour, nature and the role destiny plays in life. As I entered the blogosphere and got a little familiar with the alien environment, my mind yearned to focus on news relating to India’s rapid progress in the economic field and industry. Topics in which I have lasting interest include the new technologies for cleaner environment reducing carbon emission. In addition, topics of growing importance like steel, infrastructure development, FDI flows and even floriculture have captivated my attention.
The report on the result of the first Economic Times’ Wharton Business Plan competition published in Economic Times had especially an encouraging effect on me. The report has mentioned how difficult it was to choose the best entries from 600 budding entrepreneurs for business ideas. Some of the winning entries show the maturity of the young minds who are going to be custodian of the country in the future. It is reassuring for me to note that I am not much out of steps with the modern thinking of the young minds.
The winning team made the following comments on their bio-diesel business plan – “In the age when ethanol is grabbing attention, bio-diesel is slowly picking up pace in foreign markets such as the US, along with India. Although bio-diesel production is at a very nascent stage in the country, the sheer potential of the area compelled us to look into such a business opportunity.” I had commented as follows in my earlier post titled “India’s short menu of alternative fuels”.
“The most promising alternative fuel is bio-diesel using jatropha, karanj and similar species. The hybrid fuels and flexi-fuels can be run with varying amount of blended ethanol. Locally, the plant cultivation can be promoted provided incentives are made attractive. The auto industry, the government and the political class as a whole have to put their heads together to make this happen.”
Hopefully the budding entrepreneurs will translate their plans into reality when they will be at the helm of affairs.

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