Electronics sector in India projected to create 12 million jobs by 2027, promote economic growth: Report
By Shweta Kumari | First Published Dec 29, 2024, 10:39 AM ISTIndia's electronics sector is projected to create 12 million jobs by 2027, with 3 million direct and 9 million indirect employment opportunities.
The Indian electronics sector is projected to create a staggering 12 million job opportunities by 2027, including 3 million direct roles and 9 million indirect positions, according to a report by TeamLease Degree Apprenticeship released on Saturday. This explosive growth underscores the sector's pivotal role in promoting the nation’s economic trajectory.
Direct employment is projected to span diverse fields, with nearly 1 million roles for engineers, 2 million positions for ITI-certified professionals, and 200,000 opportunities for specialists in cutting-edge domains like artificial intelligence (AI), machine learning (ML), and data science. Meanwhile, non-technical jobs are expected to contribute a substantial 9 million indirect employment opportunities, emphasizing the sector’s far-reaching impact.
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The electronics industry has set its sights on an ambitious $500 billion manufacturing output by 2030. Achieving this vision requires a five-fold growth within the next five years, bridging a massive $400 billion production gap. Currently, the sector generates $101 billion in domestic output, with mobile phones leading the charge at 43%, followed by consumer and industrial electronics at 12% each, and electronic components at 11%.
Emerging verticals such as auto electronics (8%), LED lighting (3%), wearables and hearables (1%), and PCBAs (1%) are also brimming with potential, according to the report.
"India’s electronics sector, valued at $101 billion, is swiftly positioning itself as a global electronics hub, contributing 3.3% to global manufacturing and 5.3% to India’s total merchandise exports in FY23," said Sumit Kumar, Chief Strategy Officer at TeamLease Degree Apprenticeship. He added that despite its modest 4% participation in global value chains, the sector holds untapped potential to expand from final assembly to design and component manufacturing.
“As opportunities and employment creation rise, a multi-pronged approach becomes essential, with a strong focus on apprenticeships, reskilling, and upskilling to cultivate a future-ready workforce,” Kumar emphasized.
The report also highlighted the urgent need for capacity building, pointing out that ITIs currently operate at just 51% enrollment. To bridge this gap, industries are encouraged to establish in-house training centers and collaborate with academic institutions through Work-Integrated Learning Programs (WILP) and degree apprenticeships.
AR Ramesh, CEO of TeamLease Degree Apprenticeship, remarked on the sector’s phenomenal growth, which has been fueled by government initiatives such as ‘Make in India,’ the ‘National Electronics Policy,’ PLI schemes, and ‘Digital India.’
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