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Electronics sector to create 12 million jobs, but skill gap remains: Report
Industry News- Nov 21,24
India's domestic electronics production reached $101 billion in FY23, with mobile phones accounting for 43%, followed by consumer electronics, industrial electronics, and auto electronics.
India's electronics manufacturing industry is poised for rapid growth, projected to generate 12 million jobs by 2027, with a compound annual growth rate (CAGR) of 25-30%. According to a report by TeamLease Degree Apprenticeship, these jobs will include 3 million direct positions and 9 million indirect roles. However, the sector faces a significant challenge, with a current shortage of 10 million skilled professionals needed to meet the growing demand.
The surge in India's electronics sector is driven by Prime Minister Narendra Modi's vision of making India a $500 billion electronics manufacturing hub by 2030. The industry is expanding into diverse areas such as communications, consumer electronics, industrial electronics, aerospace, and defence, creating an increased need for specialised skills, particularly in components like semiconductors and electromechanical parts.
India's domestic electronics production reached $101 billion in FY23, with mobile phones accounting for 43%, followed by consumer electronics, industrial electronics, and auto electronics. Despite this growth, the industry will require 12 million professionals by 2027-28, yet there remains a significant skills gap of 10 million, according to A R Ramesh, CEO, TeamLease Degree Apprenticeship.
To address this, the apprenticeship ecosystem, growing at a 55% CAGR, must expand to 2 million apprentices by 2027. Strengthening industry-academia collaborations is also critical to increasing the number of graduates entering the workforce. Policies such as the Production Linked Incentive (PLI) scheme, which has attracted Rs 1.97 trillion in investments across 14 key sectors, are laying a solid foundation for growth.
The demand for talent in high-growth areas like semiconductors, drones, electric vehicles, solar panels, IT hardware, and consumer electronics highlights the urgency of bridging the skill gap to support India's emergence as a global leader in electronics manufacturing and innovation.
(ET)
electronics manufacturing
electronics
consumer electronics
A R Ramesh
industrial electronics
TeamLease
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