NEW DELHI: The renewable energy sector is not just about clean energy – it’s also a powerful driver of economic growth. The renewable energy sector alone created over one million jobs here in India – 7% of the global renewable energy workforce.
“This is just the start; new manufacturing and onshoring, supply chains particularly in sectors like electric vehicles will create millions more jobs driving economic growth and shared prosperity,” Simon Stiell executive director United Nations Framework Convention on Climate Change said on Sunday. Lauding India’s efforts, he said it is a solar superpower reaching 100 GW in record time, putting the country on a path to meet PM Narendra Modi’s ambitious 500 GW target for clean energy.
“Clean energy has broken through; $2 trillion worldwide was invested just last year – climate action clearly isn’t charity. Investment only reaches levels like these because of commercial and economic self-interest and India is a case in point,” he added.
Talking about the benefit of clean energy, he said “sharing these world leading lessons through International Solar Alliance, Indian companies and more like them see huge potential and profits. Their investment means cheaper energy prices for other companies across Indian Industries, and consumers shielded from the worst impacts of the highly volatile global energy crisis that fuel inflationary pressures. India can build a wider clean industry and manufacturing boom, he added.