Anil Agarwal sees opportunity for job creation from electric vehicles boost

livemint.com:

Anil Agarwal took to social media site X (formerly known as Twitter), to express that he is optimistic about India's growing electric vehicles segment enabling job creation in the country. In a post on March 7, the industrialist noted that EVs use up to six times more minerals compared to conventional vehicles and if played out correctly, the need for these resources could drive up jobs in the local mining sector. He further added that a "explore, mine and make in India" mantra by startups and small and medium enterprises (SMEs) will be an important factor in tapping the "massive potential" for job creation in the country.

"Did you know that an electric vehicle uses 6 times the amount of minerals than a conventional vehicle does? Today, 1 in 7 new cars being sold across the world is electric. And this growth will be exponential. In India, we are only starting out.

The demand for copper, aluminium, lithium, cobalt and nickel is going to be massive" he wrote. "We need to explore in India, mine in India and make in India to avoid dependence on expensive imports. There is an exciting opportunity for startups and SMEs to produce final products.

I encourage all entrepreneurs to enter this sector. There is a big potential for massive job creation," Agarwal added. Earlier on February 29, the Union Mines Ministry said industry majors such as Vedanta, Coal India, NLC India, Ola Electric, Jindal Power and Dalmia Group were among the bidders for 20 blocks in the first tranche of auction for critical mineral blocks in India.