Cleantech Sector Transforming the Future of India
Added: (Wed Feb 07 2018)
Pressbox (Press Release) -
“Government is focusing on the development of Cleantech Sector in India with huge investments. The country is investing over US$ 10 Billion for rural area electrification and US$ 45 Billion for smart grid and renewable development” says RNCOS.
India is a rapidly growing economy. With the increase in energy consumption and challenges in water and waste management, cleantech is the need of the hour. Every sector of the economy, be it industry, agriculture, service sector, infrastructure, has the potential for clean technology interventions that will help in the transition to a sustainable growth path in the long term.
Highlighting the potential of this industry, Shushmul Maheshwari, CEO-RNCOS said, “Clean technology will be the foundation for inclusive growth in India, besides its impact on energy security, climate change and environment. Macro developments such as urbanization, rapid growth, climate change and depletion of resources continue to drive the need for investments in clean technologies.”
One of the most important hurdles the country is facing in development of these technologies is that the regulations for generation and management of renewable energy vary from state to state. Waste management is not organized in the majority of the cities for instance most of the cities lack underground drainage system. Also, cost is required for set up for cleantech sector and with the massive industrialization the requirement of energy is huge which may not be met entirely by renewable energy and high.
However, the Government is focusing on the development of the sector and making huge investments. India is in the process of replacing all street lighting with LEDs while 50,000 new waste-water plants will be set up in the near future. Initiatives such as rural electrification and implementation of Energy Conservation Act and Renewable Energy Policies are expected to boost the sector. Construction of green buildings is encouraged by the Government.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.