India is home to several manufacturing companies, many of which are old legacy brands. They need to reshape their outlook and strategise waste management to address climate change. For instance, many old machines that consume a lot of energy need to be replaced with energy-efficient ones. Then, if there are any low-hanging fruit in the value chain, they can be easily replaced or eliminated.
Efforts towards ensuring circularity in economy and energy efficiency can lead India on the path towards its net-zero goal. “A sustainable value chain needs to be deployed and scaled across the business. Perhaps regulatory measures towards data and de-carbonisation could be brought in for better outcomes. This could also be seen as an opportunity for delving into R&D options,” said Michel Fredeau, managing director and senior partner at Boston Consulting Group, France, speaking at the CII Manufacturing Conclave 2022.
It’s necessary to convince customers and re...