Going green to give greater dividends: Premji

Indian industries should increasingly adopt sustainable practices to safeguard ecological balance, which in turn will give greater dividends to companies in future. Companies, which have adopted substantial green practices now, could well become future leaders in this space, said Azim Premji, chairman of Wipro.

“There is no disconnection between sustainability and business profits. Rather, energy conservation measures will give direct benefit to companies in term of cost saving,” Premji said addressing a Federation of Indian Chambers of Commerce and Industry (Ficci) event.

In the wake of Kyoto protocol and rising pollution level in the country, there is a raging debate over synergy between industrial development and sustainability. Referring to this issue, Premji said, “It's not only the international pressure of cutting green house gases but also the sensitivity of our younger generation towards green practices that will force companies to adopt sustainable methods.”

He also said renewable energy sources like wind and solar power were the answers to India's burgeoning energy need. “With adoption of new technology, solar power may be as affordable as coal generated power in next five to seven years,” he added. It is not only the renewable energy sources that will solve the ever increasing energy need of the country, nuclear energy will also contribute substantially towards this.

“New energy sources throw enough opportunities for new companies, which will engage in manufacturing of equipment, development of components and also in servicing and consultancy space,” Premji said. He also said India should lower its reliance on fossil fuel to save on import cost. Barring prudent energy practices, he also stressed on water management to resolve the present deficit of water resources in the country.

“The government should have a concrete water management policy with emphasis on ways to conserve water with prudent utilisation,” he said. To bring synergy between ministries, Premji said renewable energy, water resources and environment ministries should be clubbed together to stop overlapping of duties.