Industries in India Must Focus on Energy Management
India’s growing economy and the expansion of its manufacturing industry contribute to the country’s increasing dependence on energy. The country, a net importer of energy, imports coal to meet the needs of its expanding electric power industry and imports almost 70 percent of its current oil and gas requirements.
To sustain its economic growth, India needs to expand its capacity to manufacture cement, metals, and others commodities. Typically, these industries are energy intensive, further aggravating the situation on the energy front. Therefore, the country and its industrial companies must focus on energy management and energy conservation.
Several of the country’s high-growth manufacturing industries, such as cement and metals, and oil & gas, are energy guzzlers, with energy constituting over 30 percent of total production cost for some. Industrial companies can reduce energy costs by analyzing the energy consumption of various plant equipment and processes. While energy management initiatives can help contribute to the country’s overall sustainable growth, at the individual company’s level, they can reduce production costs to a significant degree. Thus, it makes good economic sense for manufacturing companies to strategize and reduce their energy consumption by increasing their focus on energy management.
Source: arc group