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14.11.24 12:26

Society

India aims to create one million jobs in the semiconductor industry by 2026

The government has come up with various initiatives and allocated a substantial budget to incentivise this industry

India is set to become a major semiconductor manufacturing centre, leading to the creation of one million jobs in various sectors by 2026.

Among the expected job openings are 300,000 positions in chip manufacturing and around 200,000 in ATMP (Assembly, Testing, Marking, and Packaging). There will also be openings in chip development, software, system chains and supply chain management. This is reported by IANS, a partner of TV BRICS.

To build a sustainable talent pool in the semiconductor industry by 2026, India will require a skilled labour force comprising engineers, operators, technicians as well as quality control, procurement and material science professionals.

The semiconductor market size in India in 2023 finance year has been estimated at US$29.84 billion and is expected to grow to US$79.20 billion by 2031 at a Compound Annual Growth Rate (CAGR) of 13.55 per cent. While the government has developed various initiatives and allocated a substantial budget to boost the industry, private companies are also showing interest in investing in the development of the sector.

Photo: iStock

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"We also encourage countries of the Global South to work together and contribute to the global economy. We also call on developed countries to set aside issues such as national security and strategic competition when we are discussing real global challenges – pressing issues such as public health or poverty reduction – so that development resources can be channelled truly effectively to those countries that need them. [...] Major powers and large countries must bear greater responsibility for the well-being of people around the world. This is the responsibility of the major powers"

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India aims to create one million jobs in the semiconductor industry by 2026

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