Green energy holds the key to combatting pollution and fostering job creation in India. Committed to climate mitigation, India ranks 4th globally in renewable energy installed capacity, with significant strides in wind and solar power, according to the International Renewable Energy Agency. Government initiatives have been instrumental in this progress. The Ministry of New and Renewable Energy has sanctioned 50 solar parks across 12 states, with a combined capacity of approximately 37,490 MW. At COP26, India pledged a transformative ‘Panchamrit’ agenda, aiming for 500 GW of non-fossil electricity capacity by 2030 and net-zero emissions by 2070. Presently, 44% of India's energy comes from non-fossil sources, projected to rise to 65% by 2030.

This green transition promises a surge in employment opportunities. Studies forecast the creation of 35 million green jobs by 2047, fuelled by the expanding clean energy sector. Hiring in renewable energy has multiplied, with solar and wind energy sectors alone adding over 53,000 workers in project development roles in 2021-22. India's ambition to achieve 220 GW of solar capacity by 2030 necessitates a significant increase in manufacturing capacity. Solar PV module manufacturing capacity is projected to reach 95 GW by 2025, with key players like AdSolar and Tata Solar Power leading the charge.

AdSolar's 10 GW solar manufacturing hub in Gujarat aims to create over 13,000 green jobs by 2027. Similarly, Tata Solar Power and other companies like Vikram Solar and Emmvee are expanding their capacities, contributing to job creation and sustainable growth. With solar energy comprising nearly 19% of India's installed power capacity and renewables contributing over 32%, the momentum is set to accelerate. Policy reforms and production-linked incentives are expected to further boost local manufacturing of green products. India's strategic initiatives, including the LiFE Mission and its leadership in global platforms like the International Solar Alliance, are paving the way for sustainable growth. These endeavours could unlock USD 1 trillion by 2030 and USD 15 trillion by 2070, signalling a promising trajectory towards a greener future. 

(Source: ET)