Startup
Green pastures: Green jobs market awaits skilled talent amid ripe opportunities
In the bustling tech hub of Hyderabad, where ancient minarets jostle for skyline space with gleaming office towers, nineteen-year-old Satyavathi Kolapalli is contemplating a future that bridges two seemingly disparate worlds: semiconductors and sustainability.
“I can pursue my core field in electronics and aim to enter the semiconductor industry after graduating, where I plan to drive innovation by integrating sustainability into the work I do,” Kolapalli—a second-year B. Tech. student in Electronics and Communication at Hyderabad’s Malla Reddy College of Engineering for Women—shares her plans with YourStory.
The recent, harrowing hurricanes in North America and unprecedented rainfall in many parts of India, including the deadly landslides in Kerala, were not merely isolated climate events. It’s only the beginning of what our planet’s future holds if climate change is not controlled.
While modern-day industrialisation cannot be fully stopped, the world must transition to a sustainable, low-carbon economy—facilitated by creating green jobs.
Green jobs are roles that contribute to environmental sustainability by reducing emissions, conserving resources, and promoting eco-friendly practices.
These jobs are ripe with career growth opportunities for experienced professionals, while they open up diverse pathways for fresh graduates, expanding options beyond traditional tech careers.
Most green jobs are found in renewable energy (solar, wind, hydro, biofuels, biogas), water management, e-waste management, green hydrogen, green building, and electric vehicles, among other sectors.
Despite these jobs being in demand, the green sector cannot fill these positions owing to a significant skill gap. This is where Indian institutions, including the IITs, NITs, and central universities—with their green skilling programmes—come into the picture.
Some of these courses are IIT Kanpur’s e-Masters in climate finance and sustainability, IIT Delhi’s MTech in environmental engineering and management, IISC Bengaluru’s MTech in sustainable technologies, and IIT Kharagpur’s MTech in renewable energy technologies.
Besides, the National Skill Development Corporation, Ministry of New and Renewable Energy, Confederation of Indian Industry, and National Solar Energy Institute provide green skills training in renewable energy, energy efficiency, and waste management sectors through various channels, including government colleges and polytechnics.
Today, green skills such as artificial intelligence (AI), sustainable design, data analysis, and project management, coupled with traditional green expertise, are most sought after in the jobs market.
Addressing the skill gap early
According to LinkedIn’s Global Climate Talent Stocktake 2024, the gap between the demand for green talent and its availability is rapidly widening. While demand increased by 11.6% from 2023 to 2024, the supply grew by only 5.6%. If these trends continue, there will be twice as many jobs requiring green skills as there are qualified candidates by 2050.
So, where does one begin?
For young learners like Kolapalli, green skilling has already begun. This year, the Telangana Department of Information Technology, Electronics, and Communications launched the Green Skills Academy in Hyderabad in partnership with 1M1B (One Million for One Billion), a UN-accredited nonprofit.
After five months of leadership training and problem-solving skills development at the academy, she will present her project, “Nurture Sapling,” at the United Nations headquarters, addressing the UN Sustainable Development Goal 2: Zero Hunger.
The academy—which targets young adults aged 18–25—has collaborated with the Telangana Academy for Skill and Knowledge (TASK), T-Hub, and T-Works to fill the skills gap by offering theoretical knowledge and practical experience in green skills, sustainability, and AI. Around 500 learners have completed the programme so far.
According to T-Hub CEO Mahankali Srinivas Rao, the initiative by the Telangana government to establish the academy will raise awareness and prepare young people to seize opportunities in the green jobs space. The partnership aims to train one million youth from Telangana by 2030.
“The curriculum [of the programme] is fairly engaging with a lot of exponential learning, and the feedback has been uniformly positive,” Rao says, adding that they will build on it.
Comparing it to learning subjects like maths, physics, or chemistry, he says the green initiative should be integrated as a core part of education rather than treated as a separate or discretionary effort.
Engineering students from nearly 400-500 colleges under TASK will benefit from this initiative, where selected students will undergo a 60-hour internship—contributing 40 hours to a live project and 20 hours to lectures and mentorship.
Manav Subodh, Founder and Chief Mentor of 1M1B, calls the academy a “finishing school” for those looking to enter green jobs.
He says 1M1B has also collaborated with the All India Council for Technical Education (AICTE), a national statutory body for technical education, to provide a 60-hour internship to any engineering student from an AICTE-approved institution.
Students can earn two credits with the internship, which they can complete in three months in an accelerated format or six months in a more flexible format.
Post the internship, they can also participate in fellowships lasting from six months to one year—coordinated with 1,000 small and medium businesses. A basic fellowship stipend could range from Rs 10,000 to Rs 35,000 per month.
“The majority of participants are going to get placed because they possess these green skills, gaining real-world exposure. They may be recruited by major food and beverage companies, large manufacturing firms, or significant players in the iron and steel industry,” Subodh explains.
In the tech sector, freshers typically make up about 33% of new hires across various functions, Munira Loliwala, Vice President of Business Strategy and Growth at TeamLease Digital, tells YourStory.
She adds the intake of freshers is lower—currently around 10-12%—in green sectors, but it is expected to grow over time.
Green job opportunities
The green industry in India, Loliwala says, accounted for about 18.5 million jobs in FY23, with an anticipated addition of 2.77 million jobs by FY25.
The ‘Gearing Up the Workforce for a Green Economy’ report by the Skill Council for Green Jobs, predicts India could create 35 million green jobs by 2047 in renewable energy, waste management, EVs, green construction, and sustainable textiles sectors.
Green jobs can be split into technical roles (63%) where software developers, IT specialists, etc., use technology to tackle environmental issues. The non-technical roles (37%) require specialised environmental expertise like engineers, planners, geologists, etc.
Despite opportunities, Loliwala highlights a shortage of talent in senior leadership roles within green jobs. It raises the need to focus on reskilling leaders to fill these positions, as they are essential for moving up the value chain and building strong teams.
“If you have a strong leader, the intake of freshers will automatically increase, creating a strong value proposition,” she explains.
Many people can transition into green jobs, which often offer higher salaries and better titles—moving from task-based positions to strategic roles like portfolio managers or researchers. Non-tech professionals, such as law or finance graduates, can also shift easily with relevant qualifications.
According to Subodh, there’s more action in the upskilling sector because many mid-career professionals feel stuck, leading to a rise in climate-related career pivots.
The rising demand for green jobs has led to greater interest in upskilling courses that combine traditional green skills with digital competencies like AI, data analytics, and project management.
Online platforms, including Coursera, edX, Udacity, LinkedIn Learning, Eruditus, and upGrad, are also joining the bandwagon to offer relevant courses, making it easier for individuals to gain the skills needed for green job opportunities.
Loliwala notes that experienced professionals in green jobs can expect a compensation increase, often exceeding 30-35%, while freshers typically earn salaries about 10-15% higher than those in traditional job markets.
Towards a sustainable future
India aims for net-zero emissions by 2070 and 50% of energy from non-fossil sources by 2030, and achieving these will require a workforce skilled in green competencies.
Resistance to change, lack of expertise, and cost issues—coupled with a shortage of formal job training in this area—have marred many companies from adopting green solutions.
Loliwala explains that most training is provided in a fragmented manner, and this skills gap presents a major obstacle to achieving a sustainable economy.
She further notes that multiple policies at different levels complicate implementation, resulting in the concept remaining a topic of discussion rather than action.
That said, T-Hub’s Rao believes this is a national priority. While states like Maharashtra and Gujarat have moved ahead, others are progressing more slowly, and it’s only a matter of time before they all catch up.
India’s planned transition to a net-zero economy offers significant opportunities for job creation and economic growth, generating over 50 million green jobs, and adding more than $15 trillion to the economy.
As for many young learners like Kolapalli, who will present her project at the 1M1B Activate Impact Summit at the UN headquarters in December 2024, the future looks bright with growing opportunities in the green jobs space as long as the skill gap continues to narrow.
“It is a good start, but there is a long way to go,” says Rao.
Startup
ED searches 19 premises of Amazon, Flipkart vendors in FEMA probe
The Enforcement Directorate Thursday conducted searches against some of the “main vendors” operating on platforms of ecommerce giants
and as part of a foreign investment “violation” investigation, official sources said.A total of 19 premises of these “preferred” vendors located in Delhi, Gurugram and Panchkula (Haryana), Hyderabad (Telangana), and Bengaluru (Karnataka) were covered as part of the action, the sources said.
It is learnt that the ED inspected documents and took copies of some from the premises of about six such vendors who were not named.
The sources said a probe has been initiated by the federal agency under the provisions of the Foreign Exchange Management Act (FEMA) after it received several complaints against the two large ecommerce companies, where it is alleged that they were “violating India’s FDI (foreign direct investment) rules by directly or indirectly influencing the sale price of goods or services and not providing level playing field for all the vendors”.
There was no immediate response from the two ecommerce companies.
Meanwhile, the Confederation of All India Traders (CAIT) welcomed the ED action.
“The CAIT, along with several other trade bodies, has been raising these issues for the past few years. I welcome the Enforcement Directorate’s actions as a step in the right direction,” CAIT Secretary General Praveen Khandelwal said in a statement.
He claimed that the Competition Commission of India (CCI) had also issued “penalty notices” to Amazon and Flipkart, and their “preferred” sellers, for “engaging” in anti-competitive practices that have adversely affected small traders and ‘kirana’ (grocery) stores.
It has been reported in the past that the CCI, which works to ensure fair business practices across sectors in the marketplace, is already looking into alleged anti-competitive ways of ecommerce companies.
The CAIT and mainline mobile retailers’ association AIMRA had also petitioned the CCI sometime back seeking immediate suspension of operations of Flipkart and Amazon as they alleged that the companies engaged in predatory pricing and were burning cash to offer heavy discounts on products.
These practices, in turn, are creating a grey market of mobile phones, causing losses to the exchequer “as players in the grey market evade taxes”, they had said.
Commerce and Industry Minister Piyush Goyal had recently flagged the same concerns as he had questioned Amazon’s announcement of a $1 billion investment in India, saying the US retailer was not doing any great service to the Indian economy but filling up for the losses it had suffered in the country.
He had said in August that their huge losses in India “smells of predatory pricing”, which is not good for the country as it impacts crores of small retailers.
Goyal said e-commerce companies were eating into the small retailers’ high-value, high-margin products that are the only items through which the mom-and-pop stores survive.
The minister had said that with the fast-growing online retailing in the country, “are we going to cause huge social disruption with this massive growth of ecommerce”.
Khandelwal said that the CAIT has urged the CCI and the ED to protect the businesses of small traders.
“In the new Bharat, led by Prime Minister Narendra Modi Ji, no one is above the law. I am hopeful that now the law will take its rightful course and protect the livelihoods of small shopkeepers.
“This government is committed to ensuring that no entity can harm the trading community. In response to multiple complaints filed by the trading community regarding FDI violations and the anti-competitive practices of quick-commerce companies such as Blinkit, Swiggy, and Zepto, we urge both the CCI and the ED to take swift action and prevent any further, irreparable damage to the businesses of small traders,” he said in the statement.
Startup
Irdai proposes to amend regulatory sandbox norms
Regulator Irdai has proposed to amend the norms related to ‘regulatory sandbox’ by incorporating principle-based approach and further facilitating the adoption of innovative ideas and new concepts across the insurance value chain.
Regulatory sandbox usually refers to live testing of new products or services in a controlled/test regulatory environment for which regulators may or may not permit certain relaxations.
The Insurance Regulatory and Development Authority of India (Irdai) constituted an internal committee to review the Irdai (Regulatory Sandbox) Regulations.
Based on the recommendations of the committee, it has proposed amendments to the regulatory sandbox regulations and seeks comments from the public at large on the proposed amendments.
Issuing an exposure draft on regulatory sandbox regulations, Irdai said the amendment seeks adoption of principle based approach over rule based approach.
The changes to the norms are also aimed to facilitate the introduction of innovative ideas/new concepts across the insurance value chain, Irdai said.
Irdai has invited comments from the stakeholders on ‘Exposure draft – Irdai (Regulatory Sandbox) (Amendment) Regulations, 2024’ by November 25.
Startup
Prodigy Finance secures $310M financing from DFC
Prodigy Finance, a global higher education finance company, has secured financing of up to $310 million with a funding commitment from the US International Development Finance Corporation (DFC).
This latest financing, building on the previous partnership with DFC, prioritises social impact with a minimum financing threshold of 30% for women and 50% for individuals from low- and lower-middle-income countries, it said in a statement.
“Together, we are empowering a new generation of global leaders to unlock opportunities that shape a brighter future,” said Prodigy Finance Chief Financial Officer Neha Sethi.
The higher education finance company’s borderless lending model allows students to apply for loans based on their future earning potential rather than their current circumstances or credit history.
Since its founding in 2007, the international student lender has enabled over 43,000 postgraduate master’s students to attend top universities, disbursing over $2.3 billion in funding to students from more than 150 countries.
Sonal Kapoor, Global Chief Commercial Officer of Prodigy Finance, told YourStory that India is its core market and has the largest share of its funding.
According to the Prodigy Finance 2022 Impact Report, students reported that the company’s loan helped them to pursue their dream career (91%), achieve success in their personal life (83%), and at least double their salary (74%).
In September, Prodigy Finance launched a $30 million blended finance programme in collaboration with The Standard Bank of South Africa Limited and Allan & Gill Gray Philanthropies.
-
Startup Stories1 year ago
Why Millennials, GenZs Are Riding The Investment Tech Wave In India
-
Startup Stories1 year ago
Startups That Caught Our Eyes In September 2023
-
Startup Stories1 year ago
How Raaho Is Using Tech To Transform India’s Fragmented Commercial Trucking
-
Startup Stories12 months ago
Meet The 10 Indian Startup Gems In The Indian Jewellery Industry’s Crown
-
Crptocurrency8 months ago
Lither is Making Crypto Safe, Fun, and Profitable for Everyone!
-
Startup Stories1 year ago
How Volt Money Is Unlocking The Value Of Mutual Funds With Secured Lending
-
Startup Stories1 year ago
Why Moscow-Based Kladana Considers Indian SME Sector As The Next Big Market For Cloud Computing
-
E-commerce1 year ago
Top Online Couponing Trends To Watch Out For In 2016