Consequently, investments in skilling and reskilling are expected to increase by 25 percent over the next 2-3 years.
Reports now surfaced that with a huge growth potential and backed by government incentives and schemes, India’ chip industry is expected to create 1 million jobs by 2026, which comprises of 300,000 jobs in chip fabrication, 200,000 positions in ATMP and additional roles in chip design, software development, system circuits, and manufacturing supply chain management, according to a report by talent solutions firm NLB Services.
India’s semiconductor industry is experiencing rapid growth, with the market valued at USD 29.84 billion in FY2023 and projected to reach USD 79.20 billion by FY2031, reflecting a compound annual growth rate (CAGR) of 13.55% during FY2024 to FY2031. Analysts believe that this expansion in the sector encompasses roles such as engineers, operators, technicians, and specialists in quality control, procurement, and materials engineering.
In December 2021, the Indian government approved the Semicon India Program with an outlay of Rs 760 billion (over $10 billion) to develop a sustainable semiconductor and display manufacturing ecosystem. Several private companies are investing in semiconductor assembly and testing facilities in India, leading to the creation of numerous high-tech and construction job opportunities. The nation is now surrounded with very high hopes to create a robust semiconductor ecosystem, offering extensive employment opportunities across various domains.
Sachin Alug, CEO of NLB Services, emphasizes the importance of hands-on training through internships to build a robust talent pipeline. These internships offer practical experience, enhancing students’ skills and strengthening the semiconductor workforce. Consequently, investments in skilling and reskilling are expected to increase by 25 percent over the next 2-3 years. The combined efforts between the government and the stakeholders aims to position India as a global semiconductor hub, fostering economic growth and technological advancement.
