In order to meet India’s growing energy demand, it is important to not only increase electricity-generating capacity, preferably through renewable sources but also use energy efficiently. Energy conservation and energy generation go hand in hand. In fact energy conservation is less expensive than energy generation. Industries need to look at replacing the old equipment and appliances that consume too much power with energy efficient products. They also need to regularly monitor their energy consumption and conduct audits. Reporting and capturing data on their carbon footprint will help them mitigate their risks which will have a positive business impact as well.
The Indian market and consumers are also slowly but steadily moving towards adopting eco-friendly products as they are realizing that sustainability is not just the right path forward but will also help in saving costs and resources (energy and water).
The Government now needs to step in and help push the sustainability agenda further by promoting the development and use of eco-friendly products through subsidies. It is also critical that the Government encourages the environmental / energy efficiency labelling and ratings of products. These moves will definitely open up the market for eco-friendly products making India more competitive on this front.
Mahathi Parashuram,
Head – Public Affairs, Grundfos India
