Electronics, IT sector to need 3.2 million workforce by 2022: NSDC

Kolkata: The National Skill Development Corporation (NSDC) has estimated that the electronics and IT hardware industry will require an additional 3-3.2 million skilled employees till 2022 and 70% of them will be absorbed into manufacturing and servicing support. NSDC had engaged IMaCS (ICRA Management Consulting Services) for the study. It revealed that the electronics and IT hardware industry has the potential to grow at a compounded annual growth rate (CAGR) of about 17% till 2022 if we consider that the GDP will grow at the rate of 7.5% to 8% over this period. Production of electronics and IT hardware, during this period will increase from 84,400 crore in 2008 to 7,52,000 crore by 2022. Consumer electronics, computers, telecom equipment, and industrial electronics will contribute to a large portion of the size of the industry. "This will translate to the overall employment in the industry increasing from the current level of 0.9 million to over 4 million by 2022 -requiring incremental human resource requirement of about 3 million to 3.2 million ," the study said. About 1.5 million additional workforce will be required for manufacturing while another 0.6 to 0.7 million will be required for servicing and repairs. The study estimates that the consumer electronics industry will require an incremental 4,82,000 employee, while the industrial electronics industry will require another 4,61,000 by 2022. The computer segment will require 6,17,000, telecom equipment 5,75,000, strategic electronics 4,05,000 and components will require another 6,85,000 employees. The Economic Times : March 25, 2011