"Our farmers can manufacture petrol, diesel and gas. You will be surprised that this year the farmers have given Indian Oil and Bharat Petroleum one crore litre of ethanol, which is absolute alcohol," Road Transport and Highways Minister Nitin Gadkari said.

Innovation and entrepreneurship are drivers of economic growth and prosperity and can change the face of India, he added.

The country incurs a huge Rs 6 lakh crore annual bill on fuel imports, which is badly impacting economy and by promoting this eco-friendly fuel "If we are able to even save Rs 1 lakh crore, the country will usher in economic prosperity," Gadkari said addressing the valedictory session of an AIMA event.

He said, on pilot run, the first ever ethanol-based public transport bus, manufactured by Sania of Sweden has started running in Nagpur and the carbon-dioxide emissions from the bus will be as low as 90 percent.

Gadkari said fate of farmers could change in Uttar Pradesh if they start producing the green fuel from its massive sugarcane industry.

"Innovation and entrepreneurship could do wonders," he said, adding that under rural development his Ministry aims to train 10 lakh people in skill development which in turn would give them employment.

As per a report, 5.5 crore jobs requiring skilled manpower is available in the globe and Indians can very well trap it, he said.

Giving another example of innovation, he said even iron slag could be used in manufacturing cement and building highways.

He said massive work was on in the infrastructure space and Highways and shipping sector alone could contribute 2 percent in India's GDP.

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