TeamLease Empowers India’s Workforce

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India’s semiconductor industry is expected to reach $100 billion by 2030 but needs a significant skill shortage. TeamLease’s collaborative efforts with industry leaders address this gap through targeted training programmes.

TeamLease Degree Apprenticeship has identified a pressing issue in India’s semiconductor industry. By 2027, the industry is projected to face a significant deficit of 250,000 to 300,000 professionals in R&D, design, manufacturing, and advanced packaging. However, global de-risking efforts and targeted government initiatives are positioning India as a crucial player in the semiconductor manufacturing space, with the potential to significantly impact the global market.

TeamLease collaborates with academia, government, and industry leaders to develop workforce solutions, apprenticeship programs, and advanced professional courses.

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The Indian semiconductor industry is projected to reach $100 billion by 2030, generating approximately one million jobs globally by 2025-2026. This growth is fuelled by Government initiatives like the India Semiconductor Mission (ISM), Production Linked Incentive (PLI), and Design Linked Incentive (DLI), which are instrumental in propelling this growth. 

The recent approvals of $15 billion in investments for three semiconductor plants, including Micron’s ATMP project, Tata’s chip manufacturing project, and CG Power’s chip, are a testament to the effectiveness of these schemes. The PLI scheme, with its $1.7 billion incentive package, significantly boosts industry capacity and job creation.

The Electronics Sector Skill Council (ESSC) is currently offering over 35 apprenticeship courses under the NAPS scheme to address skill shortages at various entry levels. This is where TeamLease Degree Apprenticeship steps in. With their strategic collaborations and innovative programs, they are making a significant difference in bridging the skill gap and driving the industry forward. The number of electronics industry apprentices has surged from 7,517 in 2019-20 to 91,948 in 2023-24, marking a 12.2-fold increase, a testament to the effectiveness of their initiatives. 

TeamLease Degree Apprenticeship leverages this growth by introducing specialised programs such as PG Diplomas in Total Quality Management and MBAs under Work-Integrated Learning Programs. These programs meet the specific needs of the semiconductor industry and ensure a steady supply of skilled professionals.

Ramesh Alluri Reddy, CEO of TeamLease Degree Apprenticeship, emphasises their mission to boost employment in India, especially with the $15 billion investment in semiconductor plants driven by the India Semiconductor Mission (ISM) and the Production Linked Incentive (PLI) scheme. The PLI scheme offers a $1.7 billion incentive package for companies establishing semiconductor facilities in India. AI-driven technologies push India towards higher-value semiconductor activities, creating demand for AI, IoT, and 5G professionals.

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