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JP Morgan releases report drawing roadmap for 3.5 crore `green’ jobs in India by 2047 – EQ Mag

JP Morgan releases report drawing roadmap for 3.5 crore `green’ jobs in India by 2047 – EQ Mag


Mumbai: Mumbai: India has potential to create 3.5 million green jobs by 2047 in renewable energy, waste management, electric vehicles, green construction and sustainable textiles, according to a published study by JP Morgan.

The study “Gearing Up the Workforce for a Green Economy” was undertaken by the Skills Council for Green Jobs and Sattva Consulting, with support from JP Morgan.

The report highlights the employment potential within India’s green economy and highlights the crucial role of philanthropy in meeting skills needs and ensuring equal access to green jobs. He estimates that the 3.5 million green jobs will be in urban and peri-urban areas.

“Key sectors such as renewable energy, green hydrogen, waste management, electric vehicles, sustainable textiles and green construction are expected to drive India’s green growth and host a significant number of green jobs” , says the report.

The report focuses on two interconnected strategies for creating meaningful livelihoods. First, by capitalizing on the global demand for skilled human resources to help India and other countries achieve their zero emissions goals. Second, by ensuring fair and well-managed transitions for workers in traditional industries who may be affected by these changes.

At the launch of the report, AK Tiwari, Secretary of the Ministry of Skills Development and Entrepreneurship (MSDE), expressed the government’s commitment to prioritizing green growth and green jobs. He said: “We are fully committed and continuously engaging with industry and other stakeholders to ensure that young people are sufficiently qualified, certified and fully prepared to meet the ever-changing demands of the industry.

The study also describes five important initiatives, called “Big Bets”, which have the potential to generate large-scale employment for people from low socio-economic backgrounds. These initiatives include reskilling and upskilling the existing workforce, training entry-level employees, supporting entrepreneurial models, promoting diversity and inclusion, and ensuring formalization and protection of working conditions in green jobs.

For example, in the electric vehicle (EV) sector, the study recommends the establishment of a network of after-sales services and charging stations led by women entrepreneurs. Likewise, it highlights the need to upgrade the skills of the existing workforce throughout the solar value chain to meet the demand for an expected 12-fold increase in jobs.

Commenting on the report, Kaustubh Kulkarni, Senior Country Officer at JP Morgan India, highlighted the importance of the five identified “Big Bets” in creating an inclusive skills development system that trains both the workforce current and incoming, ensuring a smooth transition to an economy where no one is left behind.

Kolluru Krishan, former Chairman of the Skills Council for Green Jobs (SCGJ) and Chairman of CVC Biorefineries acknowledged the high demand for skilled green workers in the industry. He called for collaborative actions between industry, government and key ecosystem players to deliver targeted skills programs at the scale required.

The study findings were based on extensive interactions with over 85 industry leaders, experts, representatives of the skills ecosystem and over 2,000 young people. Aarti Mohan, co-founder and partner of Sattva Consulting, pointed out that the transition to a green and resilient economy requires new and green skills, not only for emerging and future jobs, but also for existing jobs that are changing.

Source: PTI
Anand Gupta Editor - EQ Int'l Media Network