Power and Energy Sector Sees 9.01% Surge: TeamLease Services Employment Trends

The report shows a 9.01% net employment change in the power and energy sector, indicating a move towards a low-carbon future, driven by significant government initiatives. In the recent Union Budget 2024, the government allocated Rs 19,100 crore to the Ministry of New and Renewable Energy, with specific allocations for solar power, wind, and other renewable energy programs, the National Green Hydrogen Mission, and the bioenergy program. These allocations reflect the government’s focus on energy transition and climate change mitigation.

India’s energy sector is undergoing a significant transformation in line with the nation’s commitment to achieving net-zero emissions by 2070. The country has set ambitious targets for 2030, including reducing GDP emission intensity by 45% and achieving 50% cumulative electric power installed capacity from non-fossil fuel-based energy sources. As India gears up its power and energy sector, TeamLease Services, a leading staffing conglomerate revolutionizing employment, employability, and ease of doing business, provides insights on the evolving employment landscape in the sector through its ‘Employment Outlook Report’ for H1 FY25.

Key Findings from the Report

Workforce Expansion: 62% of respondents plan to expand their workforce, 20% anticipate reductions, and 18% expect no change for HY1 FY25.
Top Cities for Jobs: Delhi has the highest percentage of existing jobs in the power and energy sector at 56%, followed by Bengaluru at 53% and Mumbai at 52%.
Demand for Roles: There is a substantial demand for engineering roles (67%) and sales roles (60%).

Government Initiatives Driving Growth

The report shows a 9.01% net employment change in the power and energy sector, indicating a move towards a low-carbon future, driven by significant government initiatives. In the recent Union Budget 2024, the government allocated Rs 19,100 crore to the Ministry of New and Renewable Energy, with specific allocations for solar power, wind, and other renewable energy programs, the National Green Hydrogen Mission, and the bioenergy program. These allocations reflect the government’s focus on energy transition and climate change mitigation.

Industry Insights

Mr. Subburathinam P, Chief Strategy Officer, TeamLease Services, said, “The impressive 9.01% net employment change in the power and energy sector signifies a clear path towards a greener future. With 62% of industry participants expanding their workforce and leading cities such as Delhi, Bengaluru, and Mumbai driving this change, we have observed a remarkable shift in energy production and consumption. The growing focus on green energy initiatives, industry 4.0, and systemic decarbonization is propelling workforce growth in the power and energy industry. This progress is not only paving the way for achieving environmental goals, but also boosting economic growth through job creation.”

Emerging Trends

Additionally, the electric vehicle (EV) and EV infrastructure sectors are experiencing rapid growth, primarily driven by pressurization and increased competition. This expansion is expected to boost the incremental workforce in the EV as well as the power and energy industries. In the Power and Energy sector, geographically, Delhi leads existing job locations at 56%, followed by Bengaluru at 53% and Mumbai 52%. Jaipur is a front-runner for new job locations at 14%, with Bengaluru, Chennai, and Vadodara tied at 13%. This trend highlights growth in established metros while showcasing emerging opportunities in tier-2 cities, likely driven by infrastructure development, policy incentives, and renewable energy expansion.

Conclusion

The report concludes by emphasizing the critical role of green energy initiatives, industry 4.0 advancements, and systemic decarbonization in accelerating power and energy sector workforce expansion. Additionally, the rapid growth of the EV and EV infrastructure industry, driven by pressurization and competition, significantly contributes to employment growth, reinforcing the sector’s trajectory towards a sustainable and low-carbon future.

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