The recent report of Motilal Oswal has highlighted the crucial role that Indian engineering talent could play in the global semiconductor industry, especially given the current shortage of skilled workers. Semiconductor Equipment and Materials International (SEMI) estimates that around 1 million positions will need to be filled in the semiconductor sector by 2030.
The expanding capabilities and potential of India’s workforce position it well to meet future global semiconductor demands, news agency ANI reported citing Motilal Oswal’s findings.
India produces 800,000 new engineers every year and has significant experience in software development and design. The report notes that “India, which produces 800,000 new engineers annually and has expertise in software development and design, can play an important role in addressing the global talent shortage.”
The global semiconductor market is projected to reach $1 trillion by 2030. Demand for semiconductors is driven by three key technology waves: Internet of Things (IoT), artificial intelligence (AI), and the future technologies of 6G, 7G and industry. 5.0.
India’s semiconductor market has demonstrated strong growth, with a compound annual growth rate (CAGR) of 12.6 percent between FY17 and FY23, reaching $33 billion. The report forecasts this growth to continue, with the market expected to reach $80.3 billion by FY28, reflecting a CAGR of 19.6 percent over the FY23-28 period. While semiconductor manufacturing requires significant investment, it remains a globally profitable industry. The Indian government has initiated several measures to boost domestic semiconductor manufacturing, with an aim to build a robust semiconductor ecosystem in the country. Currently, 20 per cent of the world’s semiconductor design companies are based in India and are involved in innovative work such as designing AI-enabled chips. . Investments are being made to set up outsourced semiconductor manufacturing, assembly and testing facilities in India.
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