• Dr. Srikantamurthy
• Shruti Khemshetty

Indian Economy has been mounting at fast pace resulting in rapid increase of industries in all major sectors. This growth is essential for diversified life styles andstandards of people. Due to constant raise in industries and the economic supremacy of the people, the demand for power, infrastructure, goods / products and services is also increasing at fast rates necessitating expanding the existing amenities as well as installing many new ones. The rapid proliferation of industries resulted in air, water and environment pollution leading to environmental damage and health hazards apart from depleting scarce natural resources. It is believed that more than 98.99 percent of Indian population breathes unhealthy air reducing life expectancy by 3 years apart from loss of millions of man hours due to health problems. Water from most of the rivers has become undrinkable. Ground water tables have been going down and surface water has become contaminated in the vicinity of industries. The fossil resources like coal and oil will get exhausted by 2050 making India fully dependent on various other countries for its energy needs. These problems are likely to increase further with further demand of products through which more industries will be come into operation due to the increased demands. Therefore, there is a need to maintain a proper balance between financial growth and environmental protection as has been done in most of the developed countries. The developed countries took green initiatives as early as 1996 and most of them obtained ISO-14001 certification as the first step towards environmental protection. Subsequently, not only there was increase in the number of these companies but also these companies adopted higher levels of green initiatives by investing in many environmental management systems. Many of these companies have even generated financial profits through investments in green initiatives. On the other hand, the scenario in India has been totally different. Till 2001, hardly any effort was made towards environmental protection. The implementation of environmental laws in India is ineffective and the financial strength of most of the companies is either moderate or weak due to which companies have been very indeterminate to invest on various green initiatives. Most importantly, there has been not enough research to support that investments in green initiatives can be financially beneficial for companies in India also. Most of the research work done in India had been concentrating on specific areas and does not cover major sectors in totality. Also, the available researches have not brought out the factors which are responsible for the low adoption of green initiatives in India. The acceptance of green initiatives is linked with the financial strengths of the companies, it is necessary to study the effect of financial suggestions on the green initiatives that are being taken by variousgreen certified companies in India.

Green Initiatives, Environmental Management, Green production, Environmental Laws, Financial strengths and implications

"ENVIRONMENT – QUALITY BASED MODELS FOR GREEN INITIATIVES", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 1, page no.28-41, January-2019, Available :http://www.jetir.org/papers/JETIRT006006.pdf

"ENVIRONMENT – QUALITY BASED MODELS FOR GREEN INITIATIVES", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 1, page no. pp28-41, January-2019, Available at : http://www.jetir.org/papers/JETIRT006006.pdf