2 weeks ago
Govt clears 31 electronics component projects worth Rs 7,877 crore
The government of India wants to make more electronic parts at home instead of buying them from other countries.
To help with this, it started a special program called the Electronics Components Manufacturing Scheme.
Recently, the government approved 31 new projects for making electronic parts.
Now there are 106 projects in total.
Companies will invest a lot of money in these projects, even more than the government first planned.
These factories will make things like phone screens, speakers, batteries, and connectors.
Some of the factories are already working and making products.
The projects will also create many jobs for people in India.
This helps India become better at making its own electronics.
The government approved 31 new electronics component manufacturing proposals worth Rs 7,877 crore under the fifth tranche of the Electronics Components Manufacturing Scheme (ECMS).
Total sanctioned projects reached 106, with cumulative committed investment of around Rs 69,500 crore, exceeding the original target of Rs 59,350 crore (some reports cite Rs 69,000 crore and Rs 59,000 crore).
The 106 projects are expected to generate cumulative production of Rs 5,34,101 crore, above the original target of Rs 4,56,500 crore.
Electronics and IT minister Ashwini Vaishnaw said 38 of the 106 sanctioned projects have started commercial production, while 16 are under construction or installing machinery.
Direct employment across approved projects is estimated at around 74,600 positions, potentially rising to about 250,000 jobs including indirect employment.
- Who
- The Government of India, led by Electronics and IT Minister Ashwini Vaishnaw and Electronics and IT Secretary S Krishnan, along with companies such as GX Group, Centum Electronics, Wipro Global, Jyoti CNC Automation and Mitsubishi Electric India.
- What
- Approved 31 new electronics component manufacturing proposals worth Rs 7,877 crore, bringing total sanctioned projects to 106 with committed investment of about Rs 69,500 crore.
- Where
- India, with the latest tranche of approvals spread across 10 states.
- When
- Monday, August 17, under the fifth tranche of the Electronics Components Manufacturing Scheme.
- Why
- To build a domestic electronics component ecosystem, reduce dependence on imports and position India as a global hub for electronics manufacturing.
Key facts
- Scheme
- Electronics Components Manufacturing Scheme (ECMS)
- New approvals
- 31 projects worth Rs 7,877 crore
- Total sanctioned projects
- 106
- Committed investment
- Around Rs 69,500 crore (articles 1-2 cite Rs 69,000 crore)
- Original investment target
- Rs 59,350 crore (articles 1-2 cite Rs 59,000 crore)
- Expected cumulative production
- Rs 5,34,101 crore
- Direct employment
- Around 74,600 positions
- Incentive outlay
- Rs 22,919 crore
Quotes
Ashwini Vaishnaw
Union Electronics and IT Minister
“"We kept a target of Rs 59,000 crore. I am so glad the scheme has already achieved Rs 69,000 crore investment."”
telegraphindia.com
theprint.in
“"Without Six Sigma quality, there is no chance of survival in electronics manufacturing."”
telegraphindia.com
theprint.in
Sources
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