New Delhi, November 18 (IANS). India’s electronics industry is growing rapidly and will create 1.2 crore employment opportunities in the coming years with a compound annual growth rate (CAGR) of 25 to 30 percent. This information was given in a report released on Monday.
The report released by TeamLease Degree Apprenticeship said that out of these 1.2 crore jobs, 30 lakh direct and 90 lakh indirect jobs will be created.
The report further said that there is an urgent need to bridge this gap of acute shortage of 1 crore trained professionals to sustain and enhance India’s growth in the electronics sector.
India’s electronic manufacturing industry is growing rapidly due to Prime Minister Narendra Modi’s vision of making the country a $500 billion electric manufacturing hub by 2030.
The report further noted that as the industry is diversifying into sectors such as communications and broadcast electronics, consumer electronics, industrial electronics and aerospace and defense electronics, the demand for specialized skills has increased.
India is rapidly moving towards becoming a global leader in electronic manufacturing. Domestic electronic production was $101 billion in FY23. In this, mobile phones contribute 43 percent, consumer electronics 12 percent, industrial electronics 12 percent and auto electronics 8 percent.
TeamLease Degree Apprenticeship CEO A.R. Ramesh said, “By FY 2027-28, the industry will require 1.2 crore professionals. This will account for 30 lakh direct jobs and 90 lakh indirect jobs. Yet a staggering skill gap of 1 crore remains. Bridging this gap Requires a strong focus on skill development.
Policies like PLI scheme launched to increase manufacturing have attracted investment of Rs 1.97 lakh crore in 14 key sectors including electronics and Employment Linked Incentive (ELI) launched to boost job creation created a strong base Is.
–IANS
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