Ambani bats for biofuels to boost rural prosperity

RIL chairman and managing director Mukesh Ambani says technology could help marginal farmers breed agricultural produce which in turn can meet critical energy needs, reports Deepak Joshi.

Reliance Industries Ltd (RIL) chairman and managing director Mukesh Ambani on Tuesday said technology could help marginal farmers breed agricultural produce which in turn can meet critical energy needs.

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"A convergence between energy and agriculture can address energy security while raising income levels of farmers. This can be done through a biofuels revolution. It is possible to develop hybrid and transgenic technologies to use marginal lands for producing biofuel crops,”

Ambani, whose group has interests in both biotechnology and fuels, said in a memorial lecture for late industrialist Darbari Seth in New Delhi.

"It is possible to have a development model which improves the quality of output, raises producers’ incomes and delivers products at lower prices. It can be done by a convergence of organized retailing and agriculture.” said Ambani, whose venture Reliance Retail is attempting to directly procure farm produce from farmers while cutting down middlemen.

RIL chairman said a convergence of civil engineering and agriculture can build a trans-India water resources system by linking rivers. “We can converge electronics and new-age materials to build a devices ecosystem. ”

He called for a new development model that can be built on the values of cooperation and partnership between the producer and consumer; between shareholder and consumer; between managers and employees; and between corporates and government.