Semiconductors have a huge global demand. Recently a report by Talent 101, states that not only is the semiconductor industry facing a huge skill gap but that to keep up with the demand, the industry will require more than one million skilled professionals by 2025.
Semiconductors are the most important components of modern technologies. They are used in almost every electronic device.
India already houses more than 200 semiconductor design and embedded software companies, if India starts to manufacture semiconductors on a large scale this will be greatly beneficial to the country.
With growing unemployment and the advanced education that India has, taking a step in the direction of manufacturing semiconductors is not a bad step for India.
The semiconductor global market is projected to grow at a compound annual gross rate (CAGR) of 8.8% from 2022-2028, and the industry will be valued at around $712.4 Billion by 2028.
India’s government has understood how beneficial the semiconductor industry can be for India, and they have also offered various policies to urge people to take the right step.
One of these policies is the Production Linked Incentive (PLI) scheme, which offers a $1.7 billion incentive package to all companies that are setting up semiconductor manufacturing in India.
As of now, India doesn't come in the top 10 countries that manufacture semiconductors. But it is an international hub for the research and design of semiconductors.
The government expects a huge rise in the manufacturing department by 2028 as well.
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