JUNE 202419INDIAN MANUFACTURING INDUSTRY'S PATH TOWARDS GREEN FUTURE Energy efficiency, value chain mobilization, and sus-tainable alternatives can help achieve Net Zero Emis-sions. The world economy is battling inflation accen-tuated by the energy crisis. There was a period of oil shocks and soaring inflation in the 1970s and early 1990s when the world was in this situation before. But this is a rude shock to the globe as it was just overcoming the nightmares of the pandemic. Should this be a wake-up call for India? India can use this situation as a blueprint and set the foundation for a cleaner, cheaper, more resilient, and self-sufficient energy infrastructure.Fortunately for India, the government began advocating the goal of `Net Zero' emissions well before the energy crisis, not as a reaction to it but for the sake of the greater good of humanity. India pledged to cut greenhouse gas emissions by 45 percent from 2010 by 2030 to achieve net-zero emissions by 2070. At the COP26 conference in Glasgow, Prime Minister Narendra Modi unveiled the `Panchamrit' five-pronged strat-egy to combat climate change. The pledge to meet 50 percent of its energy needs from renewable sources by 2030 is one of this policy draft's standout elements. India's path towards 'Net Zero' would be challenging as India's GHG (Greenhouse Gas) emissions would be peaking by 2040s. Further Mitigation required to become Net Zero by 2070 will be exponentially higher than historic performance on this count. Despite several efforts by the government and industry players, India faces several pressing near-term chal-lenges.Interventions for accelerating Decarbonization for the Indian Manufacturing Industry:1. Energy Efficiency: Energy Efficiency will play a major role by contributing 44 percent in BAU (Business as Usual) and 32 percent in Deep Decarbonization Scenario for the Indian Industry. To achieve the nation's goal of improvement in energy intensity per unit of GDP, the industry will have to invest in technologies, processes, and end-mesh. This will require a rate of progress more than double what it has been in the past. For example, standards and labeling by the Bureau of Energy Efficiency (BEE), Energy Conservation Building Codes (ECBC) by the Ministry of Power, and the Promotion of Electric vehicle - National Electric Mobility Mission Plan (NEMMP), among others, all contribute to achieving energy efficiency goals.2. Use of the Renewables & Clean Technologies: The emphasis laid by the government on green energy has opened the floodgates. The industry is geared up to leverage tre-mendous opportunities available in the energy transition Ravichandran PurushothamanPresidentINDUSTRY INSIGHTSBy Ravichandran Purushothaman, President, Danfoss IndiaRavi is a member of Danfoss Global management team, Board member & Global mentor since 2013, who is working actively in energy, water, food & agri technology space supporting & mentoring several early stage startups.
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