India's SMEs to get Energy Efficiency Subsidy

THE Indian Micro, Small and Medium Enterprises Ministry (MSME) is soon to provide subsidies for businesses who make energy efficient improvements.

Shyam Agarwal, Additional Secretary and Development Commissioner for MSME, said today that, "If by adoption of certain measures you can reduce your consumption of energy by 15 percent you get certain subsidies.

"If some commodity is not covered by BEE (Bureau of Energy Efficiency) then the unit can take up (adopt) the study of Ministry of Power, Environment and Forests and Science and Technology (in their firms), prepare a detailed project report accordingly and can get a subsidy," Agarwal said.

He did not divulge the details of the subsidy, "The study reports will be put on [the] MSME development commissioner website in say a month."

The initiative is a part of the Indian Government's National Manufacturing Competitiveness Programme and will also help firms get easy loans for setting up new projects.

"The banks tie up will be done by the MSME Developmental Institute. The firms can take a loan for energy efficiency technology measures. They can then get a subsidy on it," Agarwal concluded.

Picture of Sunrise on the holy Ganges - Varanasi by babasteve

Thursday 9th June 2011

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