New Delhi, Jun 11 (KNN) As India embarks on an ambitious foray into the semiconductor sector, the nation is projected to require a staggering 250,000 to 300,000 skilled professionals by 2027, according to a recent report by TeamLease Degree Apprenticeship.

This burgeoning demand spans various domains, including research and development, design, manufacturing, and advanced packaging.

The report highlights that a confluence of factors, such as de-risking initiatives by leading global electronics manufacturers and targeted government initiatives, coupled with India's talent pool, have positioned the country as a key player in the global semiconductor manufacturing landscape.

Projections indicate that the Indian semiconductor industry is poised to become a USD 100 billion juggernaut by 2030, with the expansion anticipated to generate approximately one million global jobs by 2025-2026.

This growth trajectory aligns with India's broader economic and industrial development objectives.

To address the looming skill shortage, the Electronics Sector Skill Council (ESSC) currently offers over 35 apprenticeship courses under the National Apprenticeship Promotion Scheme (NAPS).

Simultaneously, TeamLease Degree Apprenticeship is actively collaborating with academia, government bodies, and industry leaders to bridge the skill gap.

Ramesh Alluri Reddy, CEO, TeamLease Degree Apprenticeship, underscored the pressing need to boost employment opportunities in India, particularly in light of the USD 15 billion investment earmarked for three semiconductor plants.

This investment stems from the India Semiconductor Mission (ISM) and the Production Linked Incentive (PLI) scheme.

"Advancements in AI-driven technologies are propelling India towards higher-value activities in the semiconductor industry," Reddy stated.

He also highlighted, "AI-powered chip design and smart manufacturing are creating a demand for professionals skilled in artificial intelligence (AI), Internet of Things (IoT), and 5G technologies."

The report emphasises the criticality of cultivating a competent workforce through degree apprenticeships and training programs to establish India as a significant player in the semiconductor arena.

Notably, the PLI scheme offers a USD 1.7 billion incentive package for companies establishing semiconductor manufacturing facilities within the country.

(KNN Bureau)