Looming skills gap threatens India's semiconductor ambitions: Report – CNBCTV18
A new report by TeamLease Degree Apprenticeship finds that India's burgeoning semiconductor industry, poised for explosive growth, faces a critical challenge: A severe shortage of skilled professionals. While government initiatives and global partnerships have positioned India as a vital player in the global semiconductor landscape, the report warns of a potential deficit of 2,50,000 to 3,00,000 skilled workers by 2027.
The Indian semiconductor industry is projected to reach $100 billion by 2030, generating approximately one million jobs globally by 2025-2026. This growth is fuelled by strategic government initiatives like the India Semiconductor Mission (ISM) and the Production Linked Incentive (PLI) scheme, which offer attractive incentives for companies setting up semiconductor manufacturing facilities in the country. These efforts have attracted significant investments, including $15 billion for three new semiconductor plants.
However, this rapid expansion hinges on the availability of a skilled workforce, which currently needs to catch up to demand. The shortage spans critical areas such as R&D, design, manufacturing, and advanced packaging.
Recognising the situation's urgency, TeamLease Degree Apprenticeship is collaborating with universities, government agencies, and industry leaders to implement a multi-pronged approach to bridge the skills gap.
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This includes:
Accelerating apprenticeship programmes: Leveraging the success of existing programmes like the National Apprentice Promotion Scheme (NAPS), which has seen a 12-fold increase in apprenticeships in the electronics sector since 2019.
Designing education-blended work programmes: Creating tailored programmes like PG diplomas in total quality management and MBAs under work-integrated learning programmes, specifically designed for the semiconductor industry.
Introducing advanced professional courses: Equipping aspiring professionals with the necessary skills to excel in this dynamic field.
"Building a robust semiconductor ecosystem in India requires a collaborative effort," stated Sumit Kumar, Chief Business Officer at TeamLease Degree Apprenticeship. "By working together, industry, academia, and training providers can ensure a steady supply of skilled professionals to meet the demands of this rapidly growing sector."
The report emphasises the need for a multi-faceted approach that combines traditional and emerging technologies, ensuring that India's workforce is equipped to handle the complexities of AI-driven chip design, smart manufacturing, and other advancements shaping the semiconductor industry's future.
As India aims to become a global semiconductor powerhouse, addressing this skill gap is not just an economic imperative but a strategic necessity. The success of India's semiconductor ambitions hinges on its ability to develop a skilled and future-ready workforce.
Also read: Exclusive | Cholamandalam Investment chairman Vellayan Subbiah optimistic about India's semiconductor industry growth
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