New Delhi, November 11: Even as India aims to become the semiconductor manufacturing hub, the industry is projected to generate a demand for one million jobs spanning across varied sectors by 2026, according to a report.

The demand includes categories, such as chip semiconductor fabrication which aims to create 300,000 jobs, while ATMP (Assembly, Testing, Marking, and Packaging) is expected to create around 200,000 roles. In addition, chip design, software development, system circuits, and manufacturing supply chain management are also expected to be open. India’s Semiconductor Market Driven by PLI Scheme Projected To Surpass USD 100 Billion in Revenues by 2030: Report.

To build a robust semiconductor talent pipeline by 2026, India needs a skilled workforce spanning roles like engineers, operators, technicians, and specialists in quality control, procurement, and materials engineering, stated the report by NLB Services.

“India recognises the significance of cultivating world-class talent to foster a strong semiconductor ecosystem, understanding that high-quality education forms the bedrock of this endeavour,” NLB Services CEO Sachin Alug said. He said reskilling and upskilling are crucial to creating a talent pipeline. Further, the upskilling of 500,000 talents every year is also needed.

India’s semiconductor market size was valued at $29.84 billion in FY2023. It is projected to reach $79.20 billion by FY2031, with a compound annual growth rate (CAGR) of 13.55 per cent. While the government devised various initiatives and allocated a significant budget to boost the semiconductor industry, private companies also showed interest in investing in building the sector. India To Become Next Semiconductor Manufacturing Hub, Says Union Minister Ashwini Vaishnaw.

The report noted that workforce development programmes and skill training will prove pivotal in addressing the talent deficit. This includes real hands-on training for students via internships, Alug said. “Overall, in the next 2-3 years, we expect the investment in skilling and re-skilling to go up by 25 per cent,” Alug said.

(The above story first appeared on LatestLY on Nov 12, 2024 08:07 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).