New Delhi, India – An independent study by the Council on Energy, Environment and Water (CEEW) has shown that India has enormous potential to attract US$4.1 trillion in cumulative green investments. This could create 48 million full-time jobs by 2047. The analysis also predicts that India could unlock an annual green market worth US$1.1 trillion by the same year.
A wider opportunity from solar energy
This first-of-its-kind national assessment identifies 36 green value chains. These chains are centered across four key areas: energy transition, circular economy, bioeconomy, and nature-based solutions.
The study emphasized that the green economy is not limited to solar panels and electric vehicles. It extends to broader areas including biomaterials, agroforestry, green building, sustainable tourism, and circular manufacturing. Each of these could expand into multi-billion dollar sectors within the next two decades.
Jayant Sinha, former Minister of State in the federal government, said: “India’s green transition is extremely positive. It has the potential to create millions of jobs, accelerate growth, improve public health, and enhance national security through the shift to domestic energy sources.”
The energy transition will generate 16.6 million jobs.
According to CEEW’s analysis, the energy transition sector alone could generate 16.6 million full-time jobs. It could also attract $3.79 trillion in investments in renewable energy, storage, and clean mobility.
Electric mobility will be the biggest driver, powering more than 57% of all energy transition jobs.
A bioeconomy and nature-based solutions could create 23 million jobs. In addition, they could unlock $415 billion in market value, particularly in rural areas.
Key job-creating value chains include chemical-free agriculture (7.2 million jobs), agroforestry, and sustainable forest management (4.7 million jobs).
A new development path and a global standard
Amitabh Kant, former G20 Secretary-General, asserted that India cannot simply follow Western development models. Instead, it has a “unique opportunity to design its cities, industries, and supply chains in line with circularity and clean energy.”
For his part, Abhishek Jain, director of green economy at CEEW, emphasized that pursuing a green economy is an imperative for Indian national security. It can reduce India’s dependence on crude oil imports (87%) and vital raw materials such as lithium, nickel, and cobalt. It can also decrease the country’s substantial imports of fertilizers.
