Indian Industries is going through a trying time due to economic slowdown. The problem has worsened due to rising inflation, unreliable grid power and increasing energy costs. For those sectors that have high energy cost, energy management could be the key for optimizing cost and enhancing competitiveness. Energy management requires adopting a strategic view towards energy procurement and utilization. The report talks about the energy challenges for Indian industries and there are numerous solutions that can be explored for energy management.