After flying the first commercial airplane on bio-fuel, Richard Branson has hinted at developing fuels from algae that does not compete with food and is not environmentally damaging.

And the UK billionaire thinks that India has potential to develop such algae-based bio-fuel.

"The chances are that it won't be coconuts. It will be algae, as we don't want to deprive people of their foodstuff. There is an urgent need to develop clean fuels," Branson said today.

"If we can develop algae-based bio-fuels, which we are trying to do, then I think India holds a good potential. But we need to get this system working," he said.

The bio-fuel for Branson's Virgin Atlantic Boeing flight from London to Amsterdam on February 24, came from a blend of coconut and babassu oil.

The philanthropist, who has committed $3 billion to contain global warming over the next decade, said he was spending much time to also "tackle social problems" in the world.

This includes global warming, conflict situations and developing clean fuels.

The five degree increase in global warming could also affect India, he pointed out.

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