India to set industry efficiency targets by December, 2010

Smoke billows from the chimneys of a power station in New Delhi September 2, 2009.

NEW DELHI (Reuters) - India hopes to set up by December next year energy efficiency targets for more than 700 industrial units, which account for 40 percent of India's fossil fuel use, the country's head of energy efficiency said on Monday.

Ajay Mathur, director-general of the Bureau of Energy Efficiency, said India's energy efficiency market was worth about $15 billion which could generate energy saving of up to two percent of the country's total energy use now.

The scheme is among a number of emissions reduction measures India has announced that could bolster the nation's position ahead of a U.N. gathering in Copenhagen in December aimed at trying to win agreement on a broader pact to fight climate change.

(Editing by David Fogarty)