Semiconductor Sector Seeks to Achieve Ambitious Target of $500B Worth Manufacturing Output

CIO Tech Outlook Team | Monday, 30 December 2024, 03:37 IST

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India's electronics industry stands on the verge of a transformative phase, with an ambitious target of achieving USD 500 billion in manufacturing output by 2030. This vision represents a fivefold expansion within the next five years, addressing a significant production gap of USD 400 billion. At present, the industry produces USD 101 billion domestically, with mobile phones contributing a substantial 43% of this figure. Other notable segments include consumer and industrial electronics, each accounting for 12% of the output, followed by electronic components at 11%. Emerging areas like auto electronics, LED lighting, wearables, hearables, and PCBAs are also making inroads, albeit on a smaller scale, showcasing the sector’s diverse potential.

The projected growth is expected to generate a remarkable 12 million jobs by 2027, encompassing both direct and indirect employment. Direct roles will include nearly 1 million engineers, 2 million ITI-certified professionals, and approximately 200,000 specialists in cutting-edge fields such as artificial intelligence, machine learning, and data science. Meanwhile, the bulk of indirect opportunities will emerge in non-technical roles, underscoring the sector's ability to drive economic growth and create a wide array of career pathways.

Despite its promising outlook, the electronics industry faces a significant talent gap, which could impede its ambitious goals. This shortage is not merely about meeting workforce numbers but extends to the availability of skilled professionals essential for addressing the industry's complex demands. The gap is particularly acute in advanced technological areas, which are critical to achieving the projected manufacturing output. Overcoming this challenge is crucial for India to solidify its position within the global electronics supply chain, foster innovation, and sustain long-term growth.

To bridge the talent gap, the industry must focus on robust skill development programs, strengthening partnerships between academia and industry, and policy interventions that attract investments and encourage workforce development. With the right strategies in place, India's electronics sector has the potential to emerge as a global powerhouse, leveraging its expanding capabilities and addressing the evolving demands of domestic and international markets.

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