AVGAS 100 LL, a special aviation fuel meant for piston engine aircraft and unmanned aerial vehicles, was launched on Monday with a view to cut reliance on imports.
In a statement, state-owned Indian Oil Corporation (IOC) said it is the first oil marketing company in the country to produce and market AVGAS 100 LL.
Currently, India imports this product from European countries.
The domestic AVGAS 100 LL, produced by IOC's Gujarat Refinery, will make flying training more affordable in India. This product, which fuels the aircraft operated by Flying Training Organisations (FTOs) and defence forces, was being imported for decades by India.
The launch event was hosted by Indian Oil at the Hindon Airforce Station near here.
Highlighting the importance of the launch of indigenous AV GAS 100 LL, Oil Minister Hardeep Singh Puri said it will serve the needs of a thriving aviation industry with increase in footfall at airports, rise in number of aircraft and FTOs for pilot training in future.
IOC Chairman Shrikant Madhav Vaidya said the indigenous fuel is superior compared to the imported grades.
"AV gas market is expected to grow from the current USD 1.92 billion to USD 2.71 billion by 2029. We plan to set up a new facility soon to target export opportunities, besides catering to the domestic demand," he said.
"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," he added.