How India's Green Drive would generate thousands of jobs

It is no secret that Indian government and the Indian companies are sinking billions of dollars into green projects. But, the question has always been whether these green investments would really create adequate jobs? Now we have a more definitive answer coming from JP Morgan. According to a recent report by JP Morgan, green technologies in India are likely to generate as many as 3.50 crore jobs by the year 2047. That is a long time away, but still a formidable number of jobs created. These jobs are likely get created across a plethora of fields like renewable energy, waste management, electric vehicles, green construction, and sustainable textiles. Of course, this list would also include green hydrogen, green ammonia, and lithium batteries and possibly the list can go on for much longer.

According to the report, which was jointly authored by JP Morgan, Skills Council for Green Jobs, and Sattva Consulting; the 3.50 crore jobs would be created both in the urban areas and also in the peri-urban areas. Even the government has made public its preference for prioritizing green growth and green jobs. The study also looks into the future. For instance, it has identified 5 significant initiatives, termed “Big Bets,” that possess the potential to generate jobs at scale for individuals, including for workers from disadvantaged socio-economic backgrounds.

This report is important since there have been consistent doubts about whether the green projects can generate as many jobs as expected. One of the concerns had been that many of the green projects while being capital intensive did not have the potential to create that many jobs. The report from JP Morgan should largely belie such concerns. In the last few years, there has been a distinct shift in the jobs profile in favour of new roles and new skill sets. The good news is that green technologies are likely to generate scores of jobs in the process.