Indian auto sector to see 70-80% rise in demand for apprentices: Report
According to a report, the recruitment of apprentices in the Indian automobile industry is expected to increase by 70-80% as a result of the extension of the production-linked incentive (PLI) scheme.
According to TeamLease Degree Apprenticeship, the strong success of the auto sector, which is affected by macroeconomic reasons and positive industry sentiments across all of its segments, can also be related to the predicted surge in apprentice recruitment.
As per the report, various states and metro cities are experiencing a larger demand. The states of Gujarat, Uttarakhand, and Madhya Pradesh as well as major cities like Pune, Chennai, and Bengaluru all exhibit this positive trend.
It further mentioned that 75 new companies have joined the PLI scheme, including Maruti Suzuki, Hero MotoCorp, Bosch, and Toyota Kirloskar Auto Parts.
Mr. Sumit Kumar, Chief Business Officer of TeamLease Degree Apprenticeship, said, "The extension of the PLI scheme, with its Rs. 25,938 crore (US$ 3.11 billion) investment, is a testament to the sector's immense growth potential. The government's expectation of creating 148,000 fresh jobs is proof of the scheme's potential impact.”
He further added that an estimated 21,123 people are currently employed, demonstrating the industry's quick expansion.
Furthermore, according to the report, degree apprenticeship programmes are becoming more popular as a way to narrow the skill gap.
In response to these challenges, degree-linked apprenticeships in the automotive sector are emerging as a solution, offering access to sought-after roles such as automotive service technicians, assembly line operators, and shopfloor engineers. These programs also provide competitive stipends ranging from Rs. 12,500-13,300 (US$ 150.01-159.61) per month, the report added.
Through the degree apprenticeship program, young talents will be empowered with specialised knowledge in cutting-edge areas such as electric powertrain technology, battery technology, and electric vehicle charging infrastructure.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.