India approves ₹7,877 crore electronics component investments under ECMS

The Indian government wants more electronic parts to be made inside India.

It has a big plan called the Electronics Components Manufacturing Scheme.

The government just approved 31 new projects worth about ₹7,877 crore.

Companies will make phone covers, copper coils, magnets, speakers, microphones, and car displays.

Wipro's electronics company will make copper-clad laminates, which are used to build circuit boards.

A joint venture between Micromax and a Chinese company will make phone display modules.

Jyoti CNC will build machines that help make electronics.

So far, 106 projects have been approved with ₹69,548 crore committed.

These projects are expected to create about 74,628 direct jobs and many more indirect jobs.

The goal is to make more electronic parts locally in India.