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India could attract US$4.1 trillion in cumulative green investments and create 48 million full-time equivalent (FTE) jobs by 2047, according to a study launched on Wednesday by Delhi-based public policy think tank Council on Energy, Environment and Water (CEEW).
The analysis further estimates that India could garner investments of US$1.1 trillion Annual green market of Rs 97.7 lakh crore by 2047. This first-of-its-kind national assessment identifies 36 green value chains across energy transition, circular economy and bio-economy and nature-based solutions that together represent a defining green economic opportunity for India’s journey towards a developed India.
The green economy is often seen in the form of solar panels and electric vehicles. However, the study highlights a broader opportunity that spans bio-based materials, agroforestry, green manufacturing, sustainable tourism, circular manufacturing, waste-to-value industries and nature-based livelihoods, each of which could expand into sectors worth billions of dollars over the next two decades while strengthening resource security and resilience.
Jayant Sinha, Chairman of Everstone Group and Eversource Capital, said, “India’s green transition is fundamentally positive: it can create millions of jobs, accelerate growth, improve public health and strengthen national security by switching to domestic energy sources. The value chains identified in this CEEW study point to where this trillion-dollar opportunity lies.”
Sinha, who is also a former Union Minister of State, was speaking at the launch of the study titled ‘Building a Green Economy for a Developed India: New Opportunities for Jobs, Growth and Sustainability’.
The study is a first-of-its-kind assessment of 36 emerging value chains in energy transition, circular economy and bio- and nature-based solutions.
Former G20 Sherpa and NITI Aayog CEO Amitabh Kant said as India transitions to a US$3 trillion economy, the country cannot emulate the development model of the West.
“With much of our infrastructure not yet ready, we have a unique opportunity to design cities, industries and supply chains around circularity, clean energy and the bio-economy. Just as digital public infrastructure enabled India to leapfrog technologically – which took decades to achieve in seven years – we now have to pole-vault into a green economy.
Chief Economic Advisor Dr V Ananth Nageswaran was also present at the launch.
According to CEEW analysis, the energy transition alone could create 16.6 million FTE jobs and attract US$3.79 trillion of investment in renewable energy, storage, distributed energy and clean mobility manufacturing.
Electric mobility will be the single largest employer in the green economy, driving more than 57 percent of all energy-transition jobs. Bio-economy and nature-based solutions, rooted in India’s rural and suburban landscapes, can create 23 million jobs and unlock market value of USD 415 billion.
The top job-creating value chains within this segment include chemical-free agriculture and bio-inputs (7.2 million FTE jobs), agroforestry and sustainable forest management (4.7 million FTE jobs), and wetland management (3.7 million FTE jobs).
Key Features of CEEW Analysis
– The energy transition alone could create 16.6 million FTE jobs and attract US$3.79 trillion of investment in renewable energy, storage, distributed energy and clean mobility manufacturing.
-Electric mobility will be the single largest employer within the green economy, driving more than 57 percent of all energy-transition jobs.
-Bio-economy and nature-based solutions, based in India’s rural and peri-urban landscapes, can create 23 million jobs and contribute US$415 billion to the market value.
-The top job-creating value chains within this segment include chemical-free agriculture and bio-inputs (7.2 million FTE jobs), agroforestry and sustainable forest management (4.7 million FTE jobs), and wetland management (3.7 million FTE jobs).
-The circular economy could generate US$132 billion in annual economic output and create 8.4 million FTE jobs in waste collection, recycling, repair, renovation and materials recovery. Of these, 7.6 million FTE jobs will arise from waste-related activities, including roles in collection, sorting, aggregation, recycling operations and last-mile resource recovery – areas that could see better wages and working conditions as the system is formalized.
India’s green transition is fundamentally positive: it can create millions of jobs, accelerate growth, improve public health and strengthen national security by switching to domestic energy sources.
-Overall, these opportunities represent one of India’s largest untapped economic opportunities with deep engagement with micro, small and medium enterprises (MSMEs), cooperatives and community enterprises.
The CEEW study also identifies key challenges, including reducing capital costs for early-stage sectors, enhancing supply chains for raw and recycled materials, strengthening R&D and innovation, developing a technically skilled workforce, and establishing reliable product standards for emerging green technologies.
The study said that integrating green value chains into mainstream economic planning will require coordinated action across ministries, state governments, industries, finance and local institutions.
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