Cellulosic ethanol is a biofuel produced from wood, grasses or the non-edible parts of plants.
As one of the fastest growing economies in the world, India's demand for fuel is rising by five per cent per year and the country imports nearly 70 per cent of its crude oil requirements, putting a huge burden on foreign exchange reserves, it said.
"India can learn from experiences of other countries to boost its ethanol production and cut the high oil imports bill," the chamber said.
India produces only 91.7 million gallons of ethanol in a year using sugarcane.
The US produces 10,600 million gallons of ethanol using corn and has over 53 per cent share in global ethanol production, while Brazil makes 6,578
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