India has experienced an average economic growth of 10% since 1991 leading to the establishment of new commercial buildings. Amongst other initiatives, Indian government enacted the Energy Conservation Act in 2001 (EC Act 2001), predominantly for commercial buildings. Government of India is relying on mandatory building energy code and voluntary standards and labeling (S&L) program to foster energy efficiency in commercial buildings. Learning from S&L home appliances program the government has initiated the formation of building component labelling programs for windows, walls and roof. This paper is part of a research that aims to map the state of current affairs in Indian fenestration industry and fenestration labelling programs from across the world. The research involves evaluation of thermal and optical performance of windows available in Indian market and compares them against those prescribed in the energy code. Further it suggests mechanisms for the formation, implementation and administration of window labelling program in India. This paper also focuses on estimation of energy saving potential of high performance window systems, their payback period by using a combination of window simulation program such as WINDOW-THERM-Optics and whole building energy simulation program such as EnergyPlus.