Integrating Sustainability in Procurement

In recent years, India has witnessed unprecedented levels of economic growth. This rapid economic growth has produced a significant rise in real wages of people and has increased the levels of disposable income in the hands of consumers resulting in higher consumption. However, much of this increased economic growth and increased consumption has been based on environmentally unsustainable, high carbon growth patterns, the effects of which are now in front of everybody eyes in terms of environmental degradation and climate change. As India march past ahead on high economic growth trajectory, she cannot afford to follow the un-mindful production and consumption of resources leading to unmanageable environmental consequences. India remains need to be vigilant in this direction and adopt environmental policy leading to sustainable development. Considering India uniqueness and need to balance growth and sustainability, India need not follow the growth trajectory of the West in her effort to fulfill aspiration of people and can chart her own course.

While the challenges for implementing sustainability in business in India are disheartening, the silver lining is that stakeholders’ attitudes are positive and aware of win-win opportunities that sustainable business practices offer in the long run for both India and her people.  In fact, it provides unique opportunity to leapfrog directly on a more sustainable growth path.