De-risking initiatives by the world's leading electronic manufacturers, coupled with targeted government initiatives and India's talent pool, have led the country to occupy a key position in the global semiconductor manufacturing space, according to the report by TeamLease Degree Apprenticeship.
Expected to become a USD 100 billion industry by 2030, the expansion is poised to generate approximately 1 million global jobs by 2025-2026, aligning with India's broader economic and industrial growth objectives.
The Electronics Sector Skill Council (ESSC) currently offers over 35 apprenticeship courses under the National Apprenticeship Promotion Scheme (NAPS) scheme to address skill shortages at various levels of entry-level work.
To address this gap, the TeamLease Degree Apprenticeship is actively collaborating with academia, government bodies, and industry leaders.
Ramesh Alluri Reddy, CEO of TeamLease Degree Apprenticeship, emphasised upon the need to increase employment in India, especially in light of the USD 15 billion investment in three semiconductor plants.
This investment results from the India Semiconductor Mission (ISM) and the Production Linked Incentive (PLI) scheme.
"Advancements in AI-driven technologies are pushing India towards higher-value activities in the semiconductor industry. AI-powered chip design and smart manufacturing are creating a demand for professionals skilled in artificial intelligence (AI), Internet of Things (IoT) and 5G," said Reddy.
Building an ecosystem for higher value creation activities and cultivating a competent workforce through degree apprenticeships and training programmes is crucial to establish India as a significant player, the report mentioned.
The PLI scheme, in particular, offers a USD 1.7 billion incentive package for companies establishing semiconductor manufacturing facilities in the country.
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