Open AccessREVIEW PAPER ON PERFORMANCE ENHANCMENT OF FOUNDRY INDUSTRY BY ENERGY CONSRVATION ANALYSIS.
Author(s) -
M. I. Desai,
Ruchi Yadav
Publication year - 2020
Publication title -
international journal of engineering, sciences and research technology
Language(s) - English
Resource type - Journals
ISSN - 2277-9655
DOI - 10.29121/ijesrt.v9.i11.2020.7
Subject(s) - energy intensity , production (economics) , dynamism , recession , unit (ring theory) , business , scale (ratio) , secondary sector of the economy , efficient energy use , energy supply , economic sector , industrial organization , resource (disambiguation) , economics , energy (signal processing) , engineering , economy , computer science , geography , macroeconomics , computer network , statistics , physics , mathematics education , mathematics , cartography , quantum mechanics , electrical engineering
Micro, Small and Medium Enterprises (MSMEs) have been accepted as engines of economic growth to promote and accelerate equitable development worldwide. The major advantage of this sector is its enormous employment potential which constitutes around 90% at significantly low capital involvement. In recent years the sector has consistently registered higher growth rate as compared to the overall industrial sector. With its agility and dynamism, the sector has shown admirable innovativeness and adaptability to survive the recent economic downturn and recession. However, despite the significant contributions made towards various aspects of the nation’s socio-economic scenario, this sector too faces several critical issues that require immediate attention. One such factor that falls under this text is the prevalence of age old technologies across the sectors and inherent inefficiencies associated with resource and energy utilization. As a result of increasing awareness towards efficient usage of energy and other resources, there has been a visible reduction in energy intensity but still studies conducted on the MSME sector reveal that the energy intensity per unit of production is much higher than that of the organized large scale sector. Most foundry units which are highly energy intensive fall under MSME category in India. India produces 12.24% of global casting at present. If energy intensity per unit production of MSME is to be brought closer to that of organized large scale sectors then energy conservation is the only way that can do so with efficient use of energy and steep rejection of energy wastage without suppression of demand for energy use.