Odisha can generate 10 lakh green jobs, attract ₹3.5 lakh cr investment by 2030: Study, ET EnergyWorld

New Delhi: Odisha has the potential to create 10 lakh full-time equivalent (FTE) jobs and attract ₹3.5 lakh crore (~USD 42 billion) in investments across green sectors by 2030, according to an independent study by the Council on Energy, Environment and Water (CEEW). The study, launched at the ‘Utkarsh Odisha – Make in Odisha Conclave’ in Bhubaneswar, estimates that these developments could add ₹2 lakh crore (~USD 24 billion) to Odisha’s GDP, increasing it by 23%.

The study identifies 28 green value chains, including seaweed cultivation, bamboo processing, floating solar, and e-waste recycling. It proposes the Green Odisha Initiative as a framework to integrate policies, investments, and actions across these sectors.

In the energy transition sector, 14 value chains, including solar, wind, battery storage, and electric vehicle manufacturing, could attract ₹1.5 lakh crore in investments and generate 4 lakh jobs by 2030. The bio-economy and nature-based solutions sector, including sustainable packaging, bio-inputs for agriculture, mangrove restoration, and agroforestry, could create over 5 lakh jobs and contribute ₹26,000 crore to Odisha’s economy.

The study projects that a circular economy approach through recycling and reuse initiatives could create 30,000 jobs and generate ₹10,000 crore in market opportunities by 2030. Value chains such as lithium-ion battery recycling, plastic waste management, and e-waste processing are identified as key areas for investment and industry growth.

CEEW’s analysis found that circular economy and bio-economy sectors offer higher jobs-to-investment ratios than renewables, with FTE jobs per crore of investment being 12 and 9 times higher, respectively, than in the energy transition sector.

The study recommends the Green Odisha Initiative to scale up green value chains. It proposes a Common Results Framework to set department-specific targets and coordinate budgets for targeted interventions, such as prioritising coastal regions for seaweed farming and incentivising urban waste recycling. It also proposes skill-building programmes and private sector partnerships to direct investments into emerging sectors like green hydrogen and battery recycling.

• Published On Jan 30, 2025 at 08:04 AM IST

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