|
Seven new projects worth Rs 5,532 crore have been approved under the Electronics Component Manufacturing Scheme (ECMS), marking another major step in India's growing electronics manufacturing industry. According to a government release, these projects are expected to generate Rs 44,406 crore in output and create 5,195 new jobs across the country.
The approval, announced by Union Minister Ashwini Vaishnaw, highlights the government's continued focus on strengthening India's domestic electronics value chain. The projects will support large-scale manufacturing of critical components and materials needed for sectors such as smartphones, automobiles, telecommunications, and medical devices. Launched on April 8, with an outlay of Rs 22,919 crore, the ECMS aims to build a self-sustaining ecosystem for electronics component manufacturing. It is designed to attract both Indian and global investors and promote higher domestic value addition as well as enhance India's role in the global electronics trade. The scheme's tenure is six years, with an additional one-year gestation period, the release said. As of September 30, investment commitments under the ECMS have reached Rs 1.15 lakh crore, nearly twice the original target of Rs 59,350 crore. The government estimates that the scheme will generate production worth Rs 10.34 lakh crore and create 1.41 lakh direct jobs, far exceeding the initial projections. The incentive outlay is expected to be Rs 41,468 crore, nearly 1.8 times higher than the original estimate. The first set of approved projects covers high-value components such as camera module sub-assemblies, multi-layer printed circuit boards (PCBs), high-density interconnect PCBs, copper clad laminates, and polypropylene films. These components are vital for devices used in communication, transport, defence, and healthcare. The projects will be spread across Tamil Nadu, Andhra Pradesh, and Madhya Pradesh, reflecting the government's effort to create regional manufacturing clusters. India's electronics sector has shown remarkable growth over the past decade. Electronics have become the country's third-largest export category in 2024-25, moving up from seventh place in 2021-22. The sector's production rose from Rs 1.9 lakh crore in 2014-15 to Rs 11.3 lakh crore in 2024-25, while exports jumped from Rs 38,000 crore to Rs 3.27 lakh crore in the same period. The rapid growth of mobile phone manufacturing has been a major contributor, with production increasing 28 times to Rs 5.45 lakh crore in 2024-25. (ANI)
|
