Speaking on the occasion, the President said that India is the fourth largest consumer of energy in the world, after US, China and Russia.
Accelerated industrialization, growing urbanization and an emerging consumer society has led to a significant increase in energy demand.
Meeting the energy needs of the population in a scenario of increasing supply limitations has posed a formidable challenge for sustainable economic growth.
He said that as an effective strategy to counter this growing difficulty, the growth in energy demand vis-à-vis the growth of GDP has to be contained through improved energy efficiency.
The President stated that resource-use efficiency and conservation are critical for the agenda of inclusive growth and development.
These elements deserve top priority in the way we utilize our scarce natural resources. Energy conservation also implies the substitution of costly imported energy by cheap energy.
This will help in reducing our foreign exchange outgo. Conservation of energy is a critical development imperative that has multiple positive spinoffs, he stressed.
Among the dignitaries present on the occasion were Shri Jyotiraditya M Scindia, Minister of State for Power (Independent Charge), Shri P.K. Sinha, Secretary, Ministry of Power and Dr. Ajay Mathur, Director General, Bureau of Energy Efficiency.
