Indian Economy News

According to Team-Lease Digital’s Green Industry Outlook report, India ranked 5th for green skill intensity in 2022

  • IBEF
  • November 10, 2023

India ranked 5th among the top 25 countries with relatively high green skill intensity in 2022, according to a Team-Lease Digital Green Industry Outlook report. It stated that green talent in the workforce rose by 12.3% between 2022-23. It indicated the rising demand for eco-conscious roles; job postings requiring at least one green skill rose by 22.4%, a substantial percentage for India considering its 1.4 billion population.

India's commitment to achieving its 500 GW clean energy target by 2030 has led to an 81% YoY increase in the demand for green jobs in January 2023, with key metro areas leading the push, including Bengaluru, Mumbai, and Delhi-NCR.

The research revealed promising results in the green industry, with the potential to double India's present employment of 18.52 million green jobs to 35 million by 2047. The gig labour in green occupations is a major contributor to this expansion, growing at a Compound Annual Growth Rate (CAGR) of 13.2%, from 2.9 million in 2022-23 to an expected 7.05 million by 2029-30.

The research also clarified some of the most in-demand green competencies, such as sustainability, solar energy, corporate social responsibility, renewable energy, and Environmental Health and Safety (EHS). It also looked at newly developing green jobs, highlighting the demand for qualified labour in these fields.

A 31% increase in job searches for sustainability employment between April 2022 and 2023 was indicated by the Green Industry Outlook report, which focused on the expansion of Environment, Social, and Governance (ESG) jobs in India. Sectors including banking, financial services, and insurance (BFSI), healthcare and pharmaceuticals, and consultancy were leading the way in terms of hiring for ESG roles.

Mr. Sunil Chemmankotil, Chief Executive Officer (CEO) of Team-Lease Digital, stated that across various sectors, sustainability and green initiatives have become top priorities, which is leading to the consistent growth in green industries and rising demand for skilled professionals. The expectations for employment in these sectors are optimistic, with the potential for India to generate 35 million green jobs by 2047.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.