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EV job boom expected after Interim Budget, but talent crunch looms large

Currently, India has approximately 400 EV manufacturers and an 11 million strong workforce, with women accounting for 11-15 percent of the workforce, according to Munira Loliwala, AVP of Strategy and Growth at staffing firm TeamLease Digital.

February 05, 2024 / 14:14 IST
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Even though jobs are plenty with every EV firm looking for talent, finding the right professional remains a major challenge.

Staffing and electric vehicle (EV) firms are bullish on growth factors in the EV sector with the Interim Budget 2024 placing a special focus on supporting EV manufacturing and charging infrastructure in line to achieve “Carbon Neutrality by 2070”.

Anticipating that the government will continue to give tax benefits and other financial support, industry leaders expect around 2.5 lakh direct and indirect jobs to be generated in the next five years.

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“It is expected that the industry will generate direct and indirect job opportunities of around 2.5 lakh in the next five years, and at least 70,000 jobs in the current year,” said RP Yadav, CMD of Genius Consultants, an HR consulting firm.

According to Dr Amitabh Saran, CEO & Founder of Altigreen, a rough estimate of jobs keeping a steady state number of 50 companies that will finally settle in the various stakeholders of the EV ecosystem, i.e., 50 OEMs, 50 battery manufacturers, 50 EV motor manufacturers, 50 electronic controllers, 50 charger companies, 50 composite materials, the industry can conservatively generate several 6-10 lakh jobs.