State-owned Indian Oil unveiled a principal grade of aviation gasoline (AVGAS 100 LL) for aircraft and unmanned aerial vehicles used by defense forces and training schools on Monday.
The product, fueling the turbojet charged reciprocating piston engine aircraft, had previously been imported by India for decades.
The locally-made oil allegedly provides a superior performance to fuel supplied by the European countries, India’s Oil Ministry stated.
“The indigenous availability of AV GAS 100 LL will help reduce dependence on imports and address the associated logistical challenges. Country will be able to save precious foreign exchange with the in-house availability of this product,” the ministry said.
The ministry hopes that the domestic production of superior grade fuel will boost the aviation sector with the Civil Aviation Ministry considering opening more training institutes in the country.
The state-owned firm has also planned to set up a new facility to target export opportunities. Shrikant Madhav Vaidya, chairman of Indian Oil, said that the AV gas market is expected to grow from the current $1.92 billion to $2.71 billion by 2029.
“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,” Vaidya said.
Besides saving crucial foreign exchange reserves, domestic production will make flying training more affordable in India.