The CEO Water Alliance platform has evaluated the possibility of reducing water consumption by 30 percent by 2027.
Water-intensive industries such as the manufacturing and hospitality sectors are increasingly reducing their water usage and investing in improved waste treatment systems to conserve water, as per a report in The Economic Times.
With major Indian cities and vast regions suffering from water shortage, the country’s water solutions industry is expected to be worth $1 billion inclusive of the annuity.
In fact, in July 2018 the US-India Strategic Partnership Forum (USISPF) launched the CEO Water Alliance (CEWA). CEWA brings together CEOs of Indian companies, government representatives and NGOs to address India's water challenges and promote sustainable water usage.
The platform has evaluated the possibility of reducing water consumption by 30 percent by 2027, via individual and collective CSR initiatives.
Given the corporate interest, the industrial wastewater solutions industry, in particular, is poised to witness double-digit growth in the range of 10-12 percent per annum, the report said.
Thermal power plants had 87.8 percent share of the industrial water consumption, as per a Niti Aayog study, and also counted as amongst the leaders in availing water solution services. Next in line are the textile industry, the pulp and paper industry and the FMCG sector.
The opportunities are ripe and US-based Ecolab in 2018 expanded its Pune plant by 50 percent and is looking to expand the Kolkata plant by 100 percent in 2020.
