Country burnt bricks or hollow/solid concrete blocks are used as infills for reinforced concrete framed structures in the present construction scenario. There is substantial depletion of natural resources during the production of conventional bricks, which create environmental pollution due to burning of bricks. Also, for the production of hollow/solid cement concrete blocks, large quantities of cement and natural aggregates are being used. This has led the researchers to find a greener solution, which is more feasible, lighter and greener alternate material for the infills, to overcome all these issues. One of such feasible solutions is the development of foamed concrete. Foamed concrete (FC) is such an innovative and versatile material, which consists of a cement-based mortar having minimum 20% of volume filled with air. This research focuses to modify the existing method of production of foamed concrete to overcome the ill effects of brick production and other block production, with the usage of large quantities of industrial waste materials. Foamed concrete blocks of densities less than 1800 kg/m3 with reasonable compressive strength can be produced with these waste materials. The effective consumption of industrial wastes for the production of FC lead to preservation of natural resources, solving disposal issues of these wastes. FC is found to be economically viable, light in weight, durable, thermally resistive as well as environmentally sustainable. This research focuses on the feasibility of utilizing the industrial waste materials such as fly ash and GGBS as partial substitute for cement and quarry dust as substitute for fine aggregate. The influence of these waste materials on foamed concrete and the development of properties like compressive strength, dry density, water absorption and thermal conductivity were studied.