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India Faces Skill Gap of 300,000 Professionals in Semiconductor Industry by 2027, Indicates TeamLease Degree Apprenticeship



2024-06-13 03:46:38 Technology

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New Delhi, May 10th, 2024: TeamLease Degree Apprenticeship has released data underscoring a significant impediment to India's semiconductor industry growth story. De-risking initiatives by the world's leading electronic manufacturers, coupled with targeted government initiatives & India's talent pool, have led India to occupy a key position in the global semiconductor manufacturing space. Expected to become a $100 billion industry by 2030, 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 Indian government's strategic initiatives, such as the India Semiconductor Mission (ISM), Production Linked Incentive (PLI) scheme, and Design Linked Incentive (DLI) scheme, have played a crucial role in engendering the semiconductor industry's growth. The recent approval of $15 billion in investments for three semiconductor plants reflects the effectiveness of these schemes. The PLI scheme, in particular, offers a $1.7 billion incentive package for companies establishing semiconductor manufacturing facilities in India, significantly boosting the industry's capacity and potential for job creation. The government's support is instrumental in creating a conducive environment for the industry's expansion and in addressing the talent gap.

Despite the promising growth trajectory, TeamLease's internal projections indicate a potential deficit of 250,000 to 300,000 professionals by 2027 in the semiconductor industry, encompassing R&D, design, manufacturing, and advanced packaging. To address this gap, the TeamLease Degree Apprenticeship is actively collaborating with academia, government bodies, and industry leaders. This comprehensive partnership is aimed at implementing a set of entry-level workforce solutions, accelerating the adoption of apprenticeship programs, designing education-blended work programs, and introducing advanced professional courses.

The Electronics Sector Skill Council (ESSC) currently offers over 35 apprenticeship courses under the NAPS scheme to address skill shortages at various levels of entry-level work. Sumit Kumar, Chief Business Officer at TeamLease Degree Apprenticeship, stated that the number of apprenticeships in the electronics industry has surged from 7,517 in 2019-20 to 91,948 in 2023-24, marking a remarkable 12.2-fold increase. TeamLease Degree Apprenticeship is leveraging this growth by introducing specialized programs such as PG Diplomas in Total Quality Management and MBAs under Work-Integrated Learning Programs, tailored to meet the specific needs of the semiconductor industry and ensure a steady supply of skilled professionals. The organization bridges the skill gap and drives the industry forward by focusing on degree apprenticeships and innovative training programs. He further emphasized the significance of the government's support through PLI and DLI schemes, underscoring the collaborative efforts of industry, academia, and training providers like TeamLease in realizing the vision of a robust semiconductor ecosystem in India. TeamLease Degree Apprenticeship is collaborating with over 22 universities to design courses that equip aspiring professionals with the necessary skills to excel in this dynamic field.

Ramesh Alluri Reddy, Chief Executive Officer of TeamLease Degree Apprenticeship, emphasized the mission of putting India to work to increase employment in India, especially in light of the $15 billion investment in three semiconductor plants. This investment results from the India Semiconductor Mission (ISM) and the Production Linked Incentive (PLI) scheme. The PLI scheme alone offers a $1.7 billion incentive package for companies establishing semiconductor manufacturing facilities in India. Advancements in AI-driven technologies are pushing India towards higher-value activities in the semiconductor industry. AI-powered chip design and smart manufacturing are creating a demand for professionals skilled in AI, IoT, and 5G. Building an ecosystem for higher value creation activities and cultivating a competent workforce through degree apprenticeships and training programs is crucial to establish India as a significant player. Degree apprenticeships offer an ideal pathway for the industry to cultivate a highly qualified workforce by combining theoretical and on-the-job training to meet industry requirements for a talented workforce. Furthermore, through their Hire Train Deploy Model and Managed Training Services, TeamLease Degree Apprenticeship ensures their workforce is skilled and prepared for the future. This shift requires a workforce proficient in traditional and emerging semiconductor technologies, and their training programs are designed to meet these evolving needs.


About TeamLease Degree Apprenticeship

TeamLease Degree Apprenticeship is India's first and largest Degree Apprenticeship programme offered through a public-private partnership with the TeamLease Skills University (TLSU), Ministry of Education, Ministry of Skill Development and Entrepreneurship, CII and NSDC. The company has hired about 700,000 apprentices with more than 1000 employers. About 98% of these apprentices have transitioned into formal employment and almost 40% have been employed in the same organization. Through its Degree Apprenticeship Program, TeamLease focuses on enhancing the employability quotient of the youth of our country and bridging the skill deficit. TeamLease Skills University (TLSU) is India's first vocational skills university and India's first NAAC-certified University that offers employment-oriented multi-level programs.

Company :-Value360 Communications

User :- Shahida khan

Email :-shahida@value360india.com

Mobile:- +91 9565338549


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