EV industry to create 5 million jobs by end of next decade: Suman Bery
New Delhi: The electric vehicle industry’s growth in India is expected to create around five million jobs by the end of next decade, an official statement from NITI Aayog said on Thursday. The statement quoted Vice Chairman Suman Bery speaking at a conference in Goa highlighting the growth prospects of the emerging sector.
The conference was held on the sidelines of the fourth energy transition working group meeting under India’s G20 Presidency, and discussed ways of achieving growth in the electric mobility ecosystem. Bery said India’s electric vehicle (EV) industry's expansion serves as a catalyst for job creation, generating approximately five million direct and indirect employment opportunities by the end of the next decade.
“This presents us with a unique chance to address the dual challenges of sustainable urbanization and unemployment, ensuring a brighter future for our citizens and our planet," said Bery. India's EV market is expected to grow at an impressive compound annual growth rate of 49% from 2022 to 2030, the statement said, addint that the country is taking rapid strides towards achieving its target of 30% EV market share by 2030. The growth of EVs will not only impact the country’s economy positively, but also bring significant social and environmental benefits – accentuating India’s economic growth along low-carbon pathways, thereby facilitating the country’s goal of achieving net zero emission by 2070, the statement said.
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