From Solar to Circular Economy, India Can Create 48 Mn Green Jobs by 2047: CEEW

India could attract USD 4.1 trillion (Rs. 360 lakh crore) in cumulative green investments and create 48 million (4.8 crore) full-time equivalent (FTE) jobs according to a new, Council on Energy, Environment and Water (CEEW) study.  

The analysis projects USD 1.1 trillion (INR 97.7 lakh crore) annual green market growth potential in India by 2047. CEEW's national assessment identifies 36 green value chains across energy transition, circular economy, and bio-economy and nature-based solutions that together represent green economic opportunity for India. 

Solar Manufacturing Opportunity

CEEW’s inhouse Global Change Analysis Model (GCAM) estimates a total of 1,260 GW of required solar energy deployment by 2047. This can create around ~182,000 FTE jobs can be created against an additional 120 GW of nameplate module manufacturing capacity by 2047.

This is estimate to create about USD 9.79 billion (INR ~85,100 crore) of estimated market opportunity against an additional 120 GW of nameplate module manufacturing capacity in 2047. Additionally, it can also create USD 3.46 billion (INR ~30,100 crore) with an estimated investment opportunity against an additional 120 GW of nameplate module manufacturing capacity by 2047.

CEEW analysis

The CEEW study also lists lowering capital costs for early-stage sectors, improving supply chains for raw and recycled materials, strengthening R&D and innovation, building a skilled workforce, and establishing trusted product standards for emerging green technologies. Some of the key areas are: 

• Energy transitionalone could generate 16.6 million FTE jobs and attract USD 3.79 trillion in investments across renewables, storage, distributed energy and clean mobility manufacturing. Electric mobility would be the single largest employer within the green economy, driving over 57 per cent of all energy-transition jobs
  

• Circular economycould generate USD 132 billion in annual economic output and create 8.4 million FTE jobs across waste collection, recycling, repair, refurbishment and material recovery. Of these, 7.6 million FTE jobs would arise from waste-related activities, including roles in collection, sorting, aggregation, recycling operations, and last-mile resource recovery—sectors that could see improved wages and working conditions as systems formalise.
  

Together, these opportunities represent one of India’s largest untapped economic opportunities, with deep linkages to micro, small and medium enterprises (MSMEs), cooperatives and community enterprises.

Renewable Energy Jobs

Sharing a bifurcation of renewable energy jobs spread across the country, the report—based on CEEW’s analysis of government data and its power-sector estimates—states the following:

1. Rooftop Solar Jobs in India:CEEW estimates around 498,300 FTE jobs from the deployment of ~130 GW of rooftop solar (RTS) by 2047. The market opportunity is valued at USD 12.99 billion (Rs 1.13 lakh crore), while the investment opportunity is estimated at USD 76.42 billion (INR ~6.65 lakh crore) for the same capacity.
2. Floating Solar Photovoltaic (FSPV): The floating solar segment could create ~34,400 FTE jobs by 2047, corresponding to ~24 GW of FSPV installed capacity. It presents an estimated market opportunity of USD 2.18 billion (INR 18,940 crore) and an investment opportunity of USD 15.76 billion (INR 1.37 lakh crore) by 2047.
3. Wind Turbine Manufacturing: In the wind manufacturing segment, CEEW analysis indicates the potential to create ~40,700 FTE jobs by 2047, aligned with ~37,800 MW of manufacturing capacity. This includes an estimated market opportunity of USD 22.76 billion (INR 1,98,000 crore) and an investment opportunity of USD 2.71 billion (INR 23,600 crore) by 2047
4. Decentralised Renewable Energy (DRE)–Based Livelihood Technologies: By 2047, the manufacturing and deployment of ~20.82 million DRE products could generate ~2,157,600 FTE jobs. The estimated market opportunity is ~USD 8,600 million (INR ~74,800 crore) for ~4.52 million DRE products in 2047, while the investment opportunity is USD 160 million (INR ~1,400 crore) for ~20.82 million products by 2047.
5. Manufacturing of Electric Vehicles: By 2047, manufacturing 42 million (4.2 crore) EVs annually could create ~9,647,100 FTE jobs, including 3.91 million direct FTE roles transitioning from ICE vehicle manufacturing. The market opportunity for 42 million EVs in 2047 is estimated at USD 306 billion (INR 26.64 lakh crore), while the investment opportunity for producing 700 million (70 crore) EVs by 2047 is USD 2.35 trillion (INR 205 lakh crore).
6. Lithium-Ion Battery (LIB) Recycling: By 2047, LIB recycling could generate 72,800 FTE jobs linked to the recycling of 14,260 kilotonnes of waste. The market opportunity is estimated at USD 5.03 billion (INR 43,700 crore) for recycling 1,770 kilotonnes in 2047, while the investment opportunity for 14,260 kilotonnes by 2047 is USD 7.03 billion (INR 61,100 crore).