Industries need to have sustainability as the key mantra, both for their survival and for having a competitive edge in the world market, said Hans Raj Verma, Additional Chief Secretary and Chairman and Managing Director of the Tamil Nadu Industrial Investment Corporation (TIIC).
He was speaking at a conclave on ‘Sustainability in hospitality - 2024’, organised by the Indian Chamber of Commerce (ICC).
“Green sustainability is no longer an option or a choice. It is a compelling imperative of competitive business strategy. We have to incorporate all its dimensions into our business operations,” Mr. Verma said.
Pointing out that manufacturing accounted for only 15% of India’s GDP, he said that in order to make the country self-reliant and achieve Tamil Nadu’s vision of becoming a $1 trillion economy by 2030, manufacturing needs to play a bigger role and make up 25% of the country’s GDP.
“Sustainable manufacturing is going to be the key for India’s development and for providing jobs to the youth. India is a young nation, and its youth are aspirational and ambitious,” he added.
Marat Melikyan, Deputy Head of Mission, Embassy of the Republic of Armenia in India, said that the hospitality sector plays a significant role in global carbon emissions, and as such, it bears a great responsibility in mitigating the environmental impact. “Despite being a small nation, Armenia has made significant strides in promoting sustainability and renewable energy. Right from implementing energy-efficient practices in our hospitality establishments to supporting eco-tourism initiatives, Armenia is committed to leading by example in the pursuit of a greener and more sustainable future,” he said.
Stressing that the goal of achieving carbon neutrality in the hospitality sector cannot be achieved by a single country, he said it required collaboration, innovation, and a shared commitment from all stakeholders.
