10 lakh talent shortfall in global chip sector opens opportunity for India: Minister

New Delhi, June 19 (IANS) Union Minister for Electronics and Information Technology Ashwini Vaishnaw on Friday said the global semiconductor industry is facing a talent shortage of around 10 lakh professionals, presenting a major opportunity for India to emerge as a key supplier of skilled manpower for the sector.

Speaking at the Software Technology Parks of India (STPI) centre in Patna, the minister said the global semiconductor industry is currently valued at around $800 billion and is expected to cross the $1 trillion mark within a year.

"By 2032, around 10 lakh jobs are expected to emerge in the semiconductor sector globally. At the same time, the industry is facing a shortage of nearly 10 lakh skilled professionals," Vaishnaw said.

He further stated that India must capitalise on this opportunity through a two-pronged strategy focused on semiconductor design and manufacturing.

According to the minister, the government is working towards establishing world-class semiconductor design capabilities in the country and ensuring that Indian graduates are among the best-trained talent globally.

"When students graduate with semiconductor design skills, they should be considered among the top talent in the world and should immediately find opportunities in the industry," he said.

Vaishnaw said nearly 75,000 students have already received attractive opportunities through semiconductor design-related programmes and initiatives.

"Our target is to increase this number from 75,000 to 5 lakh students," he added.

In addition, the minister stated that semiconductor manufacturing activities have already commenced in India and training programmes for manufacturing-related skills will be developed as production capacities scale up.