Ravichandran Purushothaman, President, Danfoss Industries (India Region)
It may be useful to look at an incentive-based mechanism for the larger companies to drive this within their supply chain thereby working towards the larger goal of a decarbonised India. In this regard, it would be great if PLI schemes are extended beyond solar include wind and other renewable projects.
Given the cash crunch faced by many in the industry currently, a faster pace of skill development and investment in sustainability can happen, if the government gives subsidies and tax breaks for companies investing in skilling and reskilling of employees to adopt and adapt faster to more energy efficient and sustainable technologies, thereby helping in creating a greener tomorrow for India.
Over the course of the next decade, electrification will be pivotal in redefining the transportation sector. India is currently importing most of the technologies related to this sector, and to become economically viable we will need to disrupt some of the technologies that are currently in vogue. To make electrification a lucrative choice for consumers in India, we also need to get India fully connected on the grid and have proper charging and storage mechanisms spread throughout the country. More budgetary outlay is also required in the commercial vehicles sector to draw on the achievements of the FAME scheme.