(MENAFN- KNN India)
New Delhi, Jan 30 (KNN) A recent study by the Council on Energy, Environment and Water (CEEW) has revealed that the state could generate approximately one million new full-time equivalent jobs across three green sectors by 2030.
The research, unveiled at the 'Utkarsh Odisha - Make in Odisha Conclave' in Bhubaneswar, indicates potential investments of Rs 3.5 lakh crore, which could contribute Rs 2 lakh crore to the state's GDP, representing a 23 percent boost.
The comprehensive study identifies 28 green value chains, encompassing diverse sectors from seaweed cultivation and bamboo processing to floating solar and e-waste recycling.
In the energy transition sector alone, which includes solar, wind, battery storage systems, and electric vehicle manufacturing, the state could attract investments of Rs 1.5 lakh crore and create 400,000 new jobs by 2030.
The bio-economy and nature-based solutions sector presents particularly promising opportunities, with potential to generate over 500,000 jobs and contribute Rs 26,000 crore to the state's economy.
These initiatives include sustainable packaging, bio inputs for agriculture, mangrove restoration, agroforestry, and seaweed cultivation. The study also highlights sustainable tourism as a significant avenue for leveraging Odisha's cultural and ecological heritage.
CEEW CEO Arunabha Ghosh emphasised Odisha's pioneering role in India's green transition, noting the state's distinction as the first to secure global climate funding and adopt climate budgeting.
The circular economy initiatives, focusing on recycling and reuse, could generate an additional 30,000 jobs and create market opportunities worth Rs 10,000 crore by 2030.
Notably, the CEEW analysis revealed that value chains within the circular economy and bio-economy sectors offer significantly higher job-to-investment ratios compared to the energy transition sector.
The study proposes a Green Odisha Initiative as a comprehensive framework to scale these value chains, recommending a Common Results Framework to establish department-specific goals and enable budget convergence across departments for targeted interventions.
As India anticipates its upcoming Union Budget, Odisha's strategic approach to green economic development could serve as a model for national policy, demonstrating how states can effectively balance economic growth with environmental sustainability and social equity.
(KNN Bureau)
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