Infineon Technologies India and National Skill Development Corporation (NSDC) signed a Memorandum of Understanding (MoU) for skill development in the Indian semiconductor sector. The MoU is signed in presence of Prime Minister Narendra Modi and visiting German Chancellor Angela Merkel. It involves the up-skilling of workers, including the provision of material and expert trainers.
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After signing, Mittal said, “The semiconductor market in India is projected to grow by more than 20 percent annually in the years to come. Infineon appreciates the advances made in this field as well as the recent progress that India as a business destination has made. We are excited about this collaboration with NSDC and look forward to the overall success of this project.”
An estimated USD 50bn of electronics and 10bn USD of semiconductors are imported to India each year due to the absence of a local manufacturing ecosystem. Studies indicate that by 2020, the amount of electronics imports may climb to USD 400bn and the amount of semiconductors may climb to USD 50bn respectively. Thus, the establishment of a local manufacturing ecosystem for semiconductors and electronics is seen as critical for India’s economic health.
At present, there is a vacuum in the skilled manpower in India in the fields of advanced technologies like semiconductors. “The purpose of the agreement signed today is to improve academic and scholarly interactions. It will focus skilling of local youth for future employability and income generation,” a statement issued by Infineon Technologies said.
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