New Delhi: The Indian electronics sector is poised for significant growth, with projections indicating the creation of 12 million jobs by 2027, according to a recent report by TeamLease Degree Apprenticeship.
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This includes 3 million direct jobs and 9 million indirect roles, showcasing the sector’s potential to drive economic development and employment opportunities.
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Direct and Indirect Job Creation
The report outlines the distribution of direct employment opportunities:
- 1 million engineers.
- 2 million ITI-certified professionals.
- 200,000 specialists in advanced fields such as Artificial Intelligence (AI), Machine Learning (ML), and Data Science.
Additionally, 9 million indirect jobs will stem from non-technical roles, underlining the broad impact of the electronics industry on India’s job market.
Ambitious Growth Targets
India’s electronics industry aims to achieve $500 billion in manufacturing output by 2030, requiring a five-fold growth over the next five years. Currently, domestic production is valued at $101 billion, with contributions from key segments:
- 43% from mobile phones.
- 12% each from consumer and industrial electronics.
- 11% from electronic components.
Emerging areas like automotive electronics (8%), LED lighting (3%), wearables and hearables (1%), and PCBAs (1%) offer immense potential for growth.
Sector’s Economic Impact
“India’s electronics sector, currently contributing 3.3% to global manufacturing and 5.3% to India’s total merchandise exports in FY23, is swiftly transforming into a global electronics hub,” said Sumit Kumar, Chief Strategy Officer at TeamLease Degree Apprenticeship.
Despite its modest 4% participation in global value chains, the sector has substantial room for growth by advancing from assembly to design and component manufacturing.
Workforce Development Crucial
As employment opportunities surge, a multi-pronged strategy focusing on apprenticeships, reskilling, and upskilling is essential. With Industrial Training Institutes (ITIs) currently operating at only 51% enrollment, enhancing capacity through employer-led initiatives, Work-Integrated Learning Programs (WILP), and degree apprenticeships is crucial.
“Employers can bridge the skills gap by establishing in-house training centers and partnering with academia,” the report noted.
Government Initiatives Driving Growth
India’s electronics sector has experienced rapid expansion thanks to initiatives like:
- Make in India.
- National Electronics Policy.
- Production-Linked Incentive (PLI) schemes.
- Digital India.
“These policies have catalyzed the sector’s growth, laying the foundation for a future-ready workforce,” added AR Ramesh, CEO of TeamLease Degree Apprenticeship.
