The report, jointly prepared by the EGROW Foundation in collaboration with Primus Partners, also emphasized the environmental and economic benefits of retrofitting. It explained that retrofitting involves replacing the original engine and associated parts with a new alternative energy source, thereby reducing operating and maintenance costs compared to traditional and new electric buses. The report further noted that if 20,000 buses are retrofitted annually, it could save approximately 500,000 tons of diesel and decrease crude oil imports by 12.7 million barrels per year. This initiative aligns with India's goal of creating 30-35 million new green jobs by 2047.

Additionally, the report analysed the financial implications of retrofitting, stating that it offers a quicker return on investment (ROI) compared to purchasing new electric buses. This aspect makes it an attractive option for both bus fleet operators and government authorities.

Overall, the report underscored the multifaceted benefits of retrofitting, from job creation to economic savings and environmental sustainability, positioning it as a viable strategy for advancing India's transport sector towards greener and more efficient practices.