Why this is important to Wisconsin businesses: Opportunities for Wisconsin suppliers of building products and services, construction, architecture, engineering, design, building materials and equipment
As of Dec. 31, 2016, India had 3,921 green building projects with 4.5 billion square feet of space, according to the Indian Green Building Council. Of these projects, 942 are already certified and fully functional. These numbers represent a vast increase from the 20,000 square feet of green building projects on record in India in 2003.
India has the second-largest registered green building footprint of any country in the world, after the U.S. Mumbai accounts for the largest share of registered green buildings, with 698 projects and 671 million square meters, followed by Pune, with 362 buildings and 245 million square meters. Bengaluru and Chennai stood at third and fourth, respectively, with 333 and 321 registered green buildings.
Through these projects, the country has managed to reduce carbon dioxide emissions by 50 million tons, to save 50,000 GW per hour in energy, and to conserve 170 gigaliters of water. The scope of registered green buildings in India is expected to grow to 10 billion square feet by 2022.
India ranks third on the U.S. Green Building Council's annual ranking of the top 10 countries outside the U.S. for Leadership in Energy & Environmental Design (LEED) certifications. China topped the rankings in 2016, with 35 million gross square meters (GSM), followed by Canada with 34 million GSM, India with 16 million GSM, and Brazil with 7 million GSM, followed by Korea, Taiwan, Germany, Turkey, Sweden and the United Arab Emirates.
The growth in green buildings in India can be attributed to factors including environmental concerns; regulatory standards set by the government; upcoming commercial, institutional and residential projects; community needs and priorities; the Smart Cities initiative; and retrofitting of existing buildings. The top obstacles to additional development of green buildings in India include lack of public awareness and political support/incentives. But with India’s ever-growing construction industry, the Modi government has given priority to issues relating to energy, water and environmental management; renewable energy; waste management and recycling.
Significant opportunities exist in India for Wisconsin companies in the green building products and services market, construction, architecture and engineering design, building materials and equipment.