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India’s Semiconductor Sector: Paving the Way for a Million Jobs by 2026

Semiconductors

November 2024

India is embarking on a semiconductor revolution, with the potential to create one million jobs by 2026. This milestone is fueled by robust technology advancements, substantial government support, and private sector investments, positioning the country as a global hub for semiconductors.

The Semiconductor Boom in India

Semiconductors are the backbone of modern technology, powering smartphones, computers, and cutting-edge medical devices. Acknowledging their strategic importance, India has rolled out initiatives to bolster domestic semiconductor manufacturing. A report highlights that the sector will require one million skilled professionals across fields like chip fabrication, assembly, testing, packaging (ATMP), design, software development, and supply chain management. India’s Semiconductor Mission (ISM) is pivotal to this transformation. Offering financial incentives and infrastructure support, ISM attracts global semiconductor manufacturers to set up operations in the country.

Market Growth and Demand for Skilled Professionals

India’s semiconductor market is forecasted to grow at a remarkable CAGR of 19.6%, reaching INR 80.3 billion by FY28. Globally, the semiconductors market is projected to hit USD 1 trillion by 2030. This surge is driven by the proliferation of technologies like IoT, AI, 6G, and quantum computing.

Meeting this unprecedented growth will require an annual upskilling and reskilling of 500,000 talents. These roles span across engineering, operations, quality control, materials engineering, and procurement, underscoring the demand for a diverse and skilled workforce.

The Road Ahead for India’s Semiconductor Industry

India’s semiconductor industry holds immense potential for innovation and growth. By achieving the ambitious goal of one million jobs by 2026, the country is poised to play a significant role in the global technology landscape.

With strategic investments in manufacturing and workforce development, supported by platforms like FutureSkills Prime, India is building a sustainable and skilled talent pipeline. This effort ensures the country remains at the forefront of technological advancements in the semiconductor’s domain. India’s initiatives in the semiconductor sector are not just about job creation but about establishing a robust ecosystem that drives technology innovation and global competitiveness.

FutureSkills Prime: Bridging the Skills Gap

Platforms like FutureSkills Prime are addressing this growing demand for skilled professionals in the semiconductor sector. By offering curated courses designed by industry experts, the platform ensures learners are equipped with industry-relevant knowledge and hands-on experience.

Key highlights of FutureSkills Prime include:

Comprehensive courses covering fundamental and advanced semiconductor topics.
Real-world projects and tools to prepare learners for the job market.
Certifications recognized by both industry and government bodies, boosting employability.

These programs cater to all, from beginners to professionals, making it an essential resource for bridging the skills gap in India’s semiconductor ecosystem.

References

India’s Semiconductor Sector: Paving the Way for a Million Jobs by 2026

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India’s Semiconductor Sector: Paving the Way for a Million Jobs by 2026