BT India@100 summit: India has potential to become a global leader in environmental, social & governance

As India completes its 75th year of Independence, the country is at cusp of a transformation when it comes to becoming an example to the world on environmental sustainability. Industry leaders, present to the Business Today India at 100 conclave said, the industry and the government are working hand-in-hand to turn India into a global leader in environmental, social and governance parameters.

According to Ashish Gaikwad, Managing Director, Honeywell Automation India, India aspires to become a global hub for hydrogen fuel that is set to significantly bring down pollution from automobiles. “It would require a lot of technological adoption and harnessing the talents pool that we have. If required investment is made, we can unlock the potential. The corporates now need to maximise on the opportunities that the government has opened up for them,” he said.

Mahendra Singhi, MD & CEO, Dalmia Bharat feels the rapid adoption of electronic vehicles throws up a positive trend. “The way EV adoption have taken place in recent times is mind boggling. Now investors have woken up and have started asking companies to comply with the ESG goals through innovation,” said Singhi.

According to him, India have been a leader in energy efficiency in a sector like cement manufacturing that has traditionally been considered a major polluter.

Currently, the cement sector in India is 20-30 per cent more efficient than the European countries. Further, apart from certain grades of coal India is self-sufficient in making cement, which is of great potential if we envisage India in 2047 - when the country will celebrate its 100th year of independence.

Vijay Nirani, MD, MRN Group says, the potential that the sugar derivatives industry has in India yet to be unlocked. According to him, even a few years ago in India, only 2-3 products used to be made from sugar and the industry was considered only as a maker of sweeteners. But now it makes nearly 18 types of products, including ethanol that is used extensively in fuel blending. However, 18 additional products can be made by the sugar manufacturers that could further help in reducing India’s emissions.

Additionally, use of renewable energy from captive plants by manufacturers is not only environment friendly but also helps reduce cost of operations significantly, said Vivek Bhatia, MD & CEO, Thyssenkrup Industries India. While the cost of per unit of electricity from the grid hovers around Rs 8-10, if manufacturers use renewable sources like solar it can come down to Rs 2.5 per unit.

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