On the back of the upcoming Union Budget, Ravichandran Purushothaman addresses concerns and sectors that need immediate attention from the Government of India – to ensure an upward socio-economic momentum for 2022-23…
India: As India stands at the precipice of rapid growth post the pandemic with its green restart strategies, all eyes are set on the manufacturing sector to spearhead this growth and the move towards sustainability. The outlay from the 2022 budget, I believe, should set the pace of growth for this decade, and pave the way for India to reach its ambitious goal of becoming a USD 5 trillion economy by 2025.
The PLI scheme introduced in 2020 served as a game-changer for many industries that were hitherto hesitant to invest in new technologies due to the high cost of capital. Going from strength to strength should now be our focus, by way of the addition of more sectors within the scheme to boost capital spending. This will invariably help build a resilient ecosystem for these sectors that will bolster our overall growth. A concerted effort on ensuring that these schemes subsidize the right benefactors is also crucial in helping facilitate the ease of doing business in the country.
An increase in budgetary outlay towards healthcare, particularly in developing infrastructure surrounding the healthcare sector is a necessity evident from our pandemic learnings. Better indoor air quality, green comfort, and energy efficiency in hospitals, smart precision cooling for pharma & lab facilities, fresh and safe food & drink, etc. will be important as our growing population faces new challenges in coming years.
With the country’s fight against Climate Change including the recent ratification of the Kigali agreement and our strong position on adopting sustainable solutions in the HVAC sector, it is crucial that the 2022 Union Budget provides the industry with increased budget allocation to develop sustainable cooling solutions and well-connected cold chain infrastructure across the country. The additional funds will also help create training programs for various industry stakeholders to promote the research, production, and use of natural & low GWP refrigerants that can contribute to India’s self-sufficient green economic growth.
2022 budget must also look at incentivizing recyclability of manufactured goods which helps promote circular thinking. Renewable energy and decarbonization incentives along with recyclability incentives can collectively help India get closer to its net-zero goals. Overall, India’s development proposals in all sectors should be planned with sustainability at its core, to ensure a better tomorrow for our future generations.
Ravichandran Purushothaman is the President of Danfoss India, the Indian subsidiary of global major in climate and energy solutions since 2013.
With experience spanning over 28 years, Ravi has worked extensively in building businesses in India, Asia Pacific, and Europe. He has been a key member of the Danfoss Growth strategies in India, Asia Pacific, and a key member of the global management teams. An Engineer in Electronics and Communication from College of Engineering Guindy is also an Alumina from IIM Ahmedabad and Singularity University in California.
Ravi is very closely involved with the industry in building technology road maps, building the network for cold chain alliances, and skill development in HVAC & R industry. A strong believer in Industry-University interaction has been working in building University interaction programs.
He was the Chairman of the CII TN State Council between 2017-2018 and is currently a member of the CII National Council for Agriculture. He also currently heads the CII National task force for Cold Chain Development in India where he lays emphasis on the development of the cold chain sector in India. He has been a key member in promoting energy efficiency, sustainable technologies, and green buildings.
He has an avid interest towards farming during his free time. He is also a cycling and trekking enthusiast.
© Smart Water & Waste World. Send us your editorial contributions at email@example.com