IT Electronics and hardware sector will need 89 lakh skilled workforce by 2022

|October 29, 2015 0

NEW DELHI, INDIA: According to a report by National Skill Development Corporation (NSDC) report, the demand for IT electronics and hardware products expected to touch 24 lakh crore, and need for skilled workforce by 89 lakh by 2022.

IT Electronics and hardware is one of the emerging sectors for employment growth in India. Industry currently employs over 4.3 million people across manufacturing, sales and marketing (including retail) and repair and maintenance segments. Demand for electronic and IT hardware products expected to touch 24 lakh crore mark by 2020, the reported noted.

According to the report, India’s per capita GDP has nearly tripled since 2000, rising from $455 to US$1,489 in 2012. This is expected to rise to over $2,000 by 2017, and will continue to be the major source of demand in consumer electronics in the country. Key government initiated programs such as the UIDAI project, the National Knowledge Network (NKN) and the National Optic Fiber Network (NOFN) will continue to be the primary demand drivers for the consumer electronics in the country.

The report pegged the demand for electronics stood at Rs 6 lakh crore in FY2013 but only Rs 216,000 crore goods were produced in India. Central and state governments are among the largest demand drivers for the electronics industry.

The report estimated India’s computers and peripherals market at Rs 7,490 crore in 2022, up from Rs 2,430 crore in 2013 and Rs 4,200 crore in 2017. Falling prices of computer products is also helping this sector to make inroads in tier-2 and -3 cities.

In recent years, the consumer electronics space has been characterized by rapid technological advancements, shortening product cycles. Moreover, these advancements come at a huge cost and require vast investments in developing R&D capabilities. Only a few Indian companies possess the skills and capital required to ensure long-term success in such a scenario, according to the report.

Commenting upon the report, Ajai Chowdhry, Chairman, NSDC, said, “With the advent of new technology the global electronics and hardware industry, has several new job roles in the market. This opens more opportunity for our skilled youth specially those who are trained as per industry standards. The sector skill council works closely with the industry to identify these standard across levels in the industry and ensures that India’s youth gets employment of their choice and caliber. Schemes like the Electronic Manufacturing Cluster Scheme, Modified Special Initiatives Package Scheme and Preferential Market Access Scheme have already been launched by government to promote domestic manufacturing in the sector.”

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