New Delhi, July 7: Ministry of Electronics and Information Technology (MeitY) Secretary S Krishnan said that India has the talent and deep expertise to be a global player in the semiconductor industry, an important sector for the country.

Speaking at a conference organised by fabless semiconductor firm iVP Semiconductor, Krishnan said that the government is helping the industry to create the ecosystem to build semiconductors. He highlighted the government’s commitment to creating an environment conducive to the industry’s growth, including providing necessary support and infrastructure. Rajeev Chandrasekhar To Address ‘Future of Britain Conference’ To Highlight India’s Digital Leadership.

The Secretary also mentioned that iVP Semiconductors plays an important role in creating demand to fill up the manufacturing capacity in the wafer fab. “I would like to congratulate iVP Semiconductor on the creation of an Indian fabless chip company,” he said. According to the global management consulting firm McKinsey, the semiconductor industry is expected to become a trillion-dollar industry globally, while the India Electronics and Semiconductor Association (IESA) estimated the sector to reach $100 billion by 2030. IT Ministry’s Task Force Suggests Massive INR 44,000 Crore Push for Indian Electronics Firms.

Meanwhile, a recent report by TeamLease Degree Apprenticeship said that the country will require 2.5 lakh-3 lakh skilled professionals by 2027 across Research and Development (R&D), design, manufacturing and advanced packaging domains. The report mentioned that 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 above story first appeared on LatestLY on Jul 07, 2024 03:17 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).