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India is Leading the Green Job Generation Market in the World

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Although more nations are entering the market for renewable energy, the majority of the jobs produced to date have been in a minimal number of countries. According to a joint report by the International Renewable Energy Agency and the International Labour Organization titled “Renewable Energy and Jobs — Annual Review 2022,” India created 863,000 green jobs in 2020–21, of which 217,000 were in solar photovoltaic vertical and 414,000 in hydropower.
China, Brazil, the US, and the European Union were the other leading nations in creating green jobs during that time. Focusing on China, Brazil, India, the United States, and EU members, this joint study provides employment figures for several powerful nations and a few other chosen countries.
12.7 million green jobs were created in 2020–2021, with China accounting for 5.4 million, an increase from 4.7 million the year prior. According to the joint analysis, Asian countries, which accounted for 63.6% of these jobs in 2021, employ the most people in the renewable energy sector.

Photo Voltaic Sector – Fastest Growing Sector

More than a third of all jobs in renewable energy will be in solar photovoltaic (PV), the industry with the highest growth.
India increased its solar PV capacity by 10.3 GW in 2021, compared to the 4.2 GW built in 2020. The joint report stated that the Indian government replaced the 15% safeguard charges imposed on PV imports from China and Malaysia with import levies of 40% on all modules and 25% on all cells, effective April 2022.
A production-linked incentive (PLI) programme was also developed to increase the domestic manufacture of high-efficiency modules. This provides project developers with financial support if they agree to build manufacturing facilities along the value chain.
“Creating a vertically integrated domestic value chain, including polysilicon and wafer manufacturing (which India currently does not have), could be key to increasing competitiveness and easing concerns about international price fluctuations, commodity shortages and supply chain disruptions,” it said.
With 132.8 GW of solar PV capacity installed globally in 2021, up from 125.6 GW in 2020, the solar vertical achieved a new record, with many nations, notably India, achieving new yearly records.

Global Employment n Renewable Energy to Rise by 2030

According to the joint report’s ambitious energy transition scenario with front-loaded investments, there will be 139 million people employed globally in renewable energy by 2030.
According to the paper, India’s aim of 500 GW of non-fossil energy sources by 2030 could lead to the creation of 3.4 million new jobs (of short or long duration) or roughly 1 million direct full-time equivalents.
For the record, Prime Minister Narendra Modi made an ambitious five-part “Panchamrit” pledge at the COP26 summit in Glasgow in late 2021, including reaching 500 GW of non-fossil electricity capacity, generating half of all energy needs from renewable sources, and reducing emissions by 1 billion tonnes by 2030. India also wants to cut its GDP’s emissions intensity by 45%. The country has also committed to net-zero emissions by 2070.
“Most would be in the localised deployment of DRE. This goal can be achieved with continuous deployment, sufficient skills development, upgrading and retraining, and enhancement of domestic manufacturing of various components,” the report has said.
India was a top installer in the wind energy market in 2020–2021.