"The partnership between India and the EU will facilitate policy dialogue, bring best practices, business solutions and joint research and innovation and will look at financing models for clean energy and climate change," Ficci quoted Tomasz Kozlowski, Ambassador, European Union Delegation to India as saying, in a statement.
Kozlowski was delivering his keynote address at a workshop on 'Agricultural Demand Side Management (AgDSM)-Adopting Technologies to Boost Efficiencies', organised by FICCI and European Commission.
Agriculture uses about 18 per cent of the electricity consumed in India. This means that to tackle energy security, to implement India's climate commitments, as well as to ensure food security and deal with water challenges, India must consider energy efficiency in irrigation, Ficci said in the statement.
Hence, the European Union has brought policy and financial experts as well as European Business to India offering concrete solutions in this regard, Kozlowski said.
Further, due to the increasing demand for water to meet the agricultural needs, about 0.25 to 0.5 million new pump sets are being added annually. These high efficiency pumps would save about 25-30 per cent energy.
He added that the industry had sufficient pumpsets to supply but there was a need to work out a feasible finance models for adoption of these pumpsets.