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EV industry may introduce 5 million jobs in the next 10 years: NITI Aayog
The expansion of the
electric vehicle
sector in India is anticipated to result in the creation of five million new employment opportunities by the end of the next ten years, according to a formal announcement made on Thursday by NITI Aayog. Vice Chairman Suman Bery, who was mentioned in the release, highlighted the development possibilities of the burgeoning industry when addressing a conference in Goa.The conference, which covered strategies for fostering growth in the ecosystem for electric mobility, was conducted concurrently with the fourth energy transition working group meeting under India's G20 Presidency.
By the end of the next decade, the growth of India's electric vehicle (EV) sector would have created five million chances for direct and indirect employment, according to Bery. Because of this, Bery added, "We have a rare opportunity to address the twin problems of sustainable urbanisation and unemployment, ensuring a better future for our people and our planet."
The statement said that India is making quick progress towards meeting its goal of 30% market share by 2030 and predicted that the country's EV market will expand at an exceptional annualised compound growth rate of 49% from 2022 to 2030.
The expansion of EVs will not only have a favourable effect on the economics of the nation but will also have major social and environmental advantages. According to the statement, this will highlight India's economic growth along low-carbon pathways and help the nation achieve net zero emissions by 2070.
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