Demand for green building products to touch Rs 19,80,000 crore by 2022

11 Apr 2017 CW Staff

Green buildings save energy and water consumption levels by 40-50 per cent.
Maharashtra in process of evolving green products bid process: Govt Official.
GPSC rates 150 green products in two years.

The government is working on the process of effectively procuring green products on the basis of ‘life-cycle costs’, instead of L1 process followed at present, for government buildings to be built in future, said Ashish Kumar Singh, Principal Secretary, Public Works Department, Government of Maharashtra, at the Conference on GreenPro organised by the Confederation of Indian Industry (CII).

The demand for green products is projected to touch US$ 300 billion (or about Rs 1,980,000 crore) by 2022. India, which has the second largest footprint of green buildings in the world after the US, is targeting to increase its footprint to 10 billion sq ft by 2022, from 4.5 billion (450 crore) sq ft of footprint at present.

“We are discussing with Indian Green Building Council (IGBC) on the process of procuring green products in the government and how to build competitive environment, in which bidders can compete by writing contracts which makes life-cycle costs become more relevant than just L1 kind of an understanding of procurement,” said Singh.

Green buildings bring down energy and water consumption levels by 40-50 per cent by using environmentally sustainable products.

Emphasising the need to build sufficient number of qualified professionals, Singh said, “About 70 per cent of India’s infrastructure is yet to be built. We should not miss this opportunity. All government buildings that will be built in future in Maharashtra will be green buildings,” he added. The government has also decided to identify one iconic building in each of the six regions in the state for retrofitting and ensure that they are net zero (conventional) energy buildings, Singh added.

Already two Maharashtra Government buildings have been rated for conforming to green specifications.

Further, Gurmit Singh, Co-Chair IGBC Mumbai Chapter and Managing Director, Rajco Metal Industries, said, “With the initiatives taken by IGBC and rating of green products, the demand for these products is projected to touch $300 billion by 2022.”

Falling costs of green products and project costs coming closer to that of non-green project levels was also boosting the demand for these products, Gurmit added. “When the first project of 20,000 sq ft was built in early 2000s, the cost of green building was 18 per cent higher when compared to the normal one. Today, it works out to just 1-2 per cent higher.”

Pointing out that that the ‘Green makes business sense’ was driving the demand for green products and services, ParasuRaman R, Chairman, Green Products and Services Council (GPSC) and Founding Chairman, IGBC said that the rating of green products was done to make green buildings more sustainable, scientific and industry friendly.

The green products rating council of CII- IGBC has certified over 150 products produced by nearly 30 companies over the last two years. IGBC has already certified 3,900 green buildings in the country.

Green buildings save energy and water consumption levels by 40-50 per cent. Maharashtra in process of evolving green products bid process: Govt Official. GPSC rates 150 green products in two years. The government is working on the process of effectively procuring green products on the basis of ‘life-cycle costs’, instead of L1 process followed at present, for government buildings to be built in future, said Ashish Kumar Singh, Principal Secretary, Public Works Department, Government of Maharashtra, at the Conference on GreenPro organised by the Confederation of Indian Industry (CII). The demand for green products is projected to touch US$ 300 billion (or about Rs 1,980,000 crore) by 2022. India, which has the second largest footprint of green buildings in the world after the US, is targeting to increase its footprint to 10 billion sq ft by 2022, from 4.5 billion (450 crore) sq ft of footprint at present. “We are discussing with Indian Green Building Council (IGBC) on the process of procuring green products in the government and how to build competitive environment, in which bidders can compete by writing contracts which makes life-cycle costs become more relevant than just L1 kind of an understanding of procurement,” said Singh. Green buildings bring down energy and water consumption levels by 40-50 per cent by using environmentally sustainable products. Emphasising the need to build sufficient number of qualified professionals, Singh said, “About 70 per cent of India’s infrastructure is yet to be built. We should not miss this opportunity. All government buildings that will be built in future in Maharashtra will be green buildings,” he added. The government has also decided to identify one iconic building in each of the six regions in the state for retrofitting and ensure that they are net zero (conventional) energy buildings, Singh added. Already two Maharashtra Government buildings have been rated for conforming to green specifications. Further, Gurmit Singh, Co-Chair IGBC Mumbai Chapter and Managing Director, Rajco Metal Industries, said, “With the initiatives taken by IGBC and rating of green products, the demand for these products is projected to touch $300 billion by 2022.” Falling costs of green products and project costs coming closer to that of non-green project levels was also boosting the demand for these products, Gurmit added. “When the first project of 20,000 sq ft was built in early 2000s, the cost of green building was 18 per cent higher when compared to the normal one. Today, it works out to just 1-2 per cent higher.” Pointing out that that the ‘Green makes business sense’ was driving the demand for green products and services, ParasuRaman R, Chairman, Green Products and Services Council (GPSC) and Founding Chairman, IGBC said that the rating of green products was done to make green buildings more sustainable, scientific and industry friendly. The green products rating council of CII- IGBC has certified over 150 products produced by nearly 30 companies over the last two years. IGBC has already certified 3,900 green buildings in the country.