US-based Lam Research Corporation has announced a significant commitment to India's semiconductor industry, pledging nearly $29 million (Rs 241 crore) in software licenses over the next two years. This initiative aims to upskill 2,800 students in collaboration with the Indian Semiconductor Mission (ISM) and the Indian Institute of Science (IISc), as part of efforts to prepare a future workforce for the chip industry.

The Memorandum of Understanding (MoU) signed between Lam Research Corporation, ISM, and IISc underscores the company's dedication to supporting India's semiconductor ambitions. As per the agreement, ISM will assist in establishing infrastructure and operational costs, building upon the successful completion of a pilot program in partnership with IISc. The MoU also outlines plans for expanding the initiative to multiple universities across the country.

Under this partnership, IISc will play a crucial role in training instructors at selected universities, while Lam Research Corporation will deploy a dedicated team of employees to facilitate the expansion of the program nationwide.

Rangesh Raghavan, Corporate Vice President and GM at Lam Research India, emphasized the importance of building a skilled workforce for India's semiconductor industry, highlighting the role of "Semiverse Solutions" in achieving this goal. These solutions leverage Lam's extensive portfolio, including virtual technology and simulations, to create a boundary-less virtual learning and collaboration platform aimed at fostering creativity and innovation.

Professor Srinivasan Raghavan, Chair of the Centre for Nano Science and Engineering at IISc, expressed confidence in the program's impact, citing the successful placement of participants in global semiconductor manufacturing companies. The initiative targets educating up to 60,000 Indian engineers in semiconductor fabrication technologies over a 10-year period, addressing the talent shortage anticipated in the semiconductor industry.

Acknowledging the importance of effective skill development partnerships, Akash Tripathi, CEO of ISM, emphasized the role of such collaborations in sustaining the momentum of India's semiconductor ecosystem's growth.

The announcement comes at a critical time when the semiconductor industry is grappling with a significant talent shortage to meet the burgeoning demand. Lam Research Corporation's investment reflects its commitment to nurturing talent and fostering innovation in India's semiconductor landscape, positioning the country as a key player in the global semiconductor market.