A comparative evaluation of green technology in Indian companies

Green technology is defined as the technology which is environment friendly, developed and used in such a manner so that it does not disturb our environment and conserves natural resources. Simplest example of green technology is solar cell; it directly converts the energy in light into electrical energy through the process of photovoltaic. Alexis Madrigal writes in his excellent book, “Powering the Dream: The History and Promise of Green Technology -The fossil-fueled economy of the twentieth century had a tendency to pave over alternatives to itself, leaving only curious hints of worlds that might have been”. In the past, the development of industries with lack of proper guidance and effective control which result in series of problems, such as destruction of the ecological environment, environmental pollution, spiritual pollution, and other issues, the above problems affected the economic development of the world. After the realization of this alarming situation industries started putting efforts for making their business activities more environmental friendly. Grapping the opportunity for adoption of green technology by manufacturing concerns, production of this technology is being started at global level. Like other countries, India is also indulging itself in producing green technology. This paper evaluate the Indian companies producing green technology and there comparative analysis with the help of their financial performances. The data relates to the period from 2009 to 2014. The research is of analytical nature in which facts, figures and information from secondary sources are used to make a critical evaluation. The analyzed information shows that the NTPC and Indowind Energy Limited are resulting tremendous growth at their levels in green technology in India. It concludes that both of the companies are showing neck and neck results when compared them on the basis of their financial performances.