New Delhi: Union Electronics and IT Minister Ashwini Vaishnaw on Monday announced the approval of the first tranche of seven projects worth over Rs 5,500 crore under the Electronics Components Manufacturing Scheme (ECMS).
The multi-layer printed circuit boards (PCBs), HDI PCBs, camera modules, copper-clad laminates, and polypropylene films will receive incentives under ECMS for their domestic production, an official statement said.
The move marks a major step in India’s journey from making finished products to manufacturing modules, components, materials and machinery used to manufacture them, the statement added.
Five units in Tamil Nadu, one in Andhra Pradesh, and one in Madhya Pradesh have been approved.
The IT Ministry said that the scheme received an overwhelming response with 249 applications, indicating proposed investments of Rs 1.15 lakh crore, projected production of approximately Rs 10.34 lakh crore, and an estimated creation of 1.42 lakh jobs.
Electro-mechanicals and multi-layer PCBs attracted the highest number of applicants, with 87 and 43 companies, respectively.
Seven approved projects involve a committed investment of Rs 5,532 crore, projected to generate components valued at Rs 36,559 crore and create over 5,100 direct jobs.
According to industry leaders, the government has demonstrated its commitment to swift and decisive leadership by announcing the first set of 7 applications approved under ECMS, in a matter of a few days.
“These investments will catalyse large-scale domestic capabilities, leveraging the scale achieved through the manufacturing of mobile phones and other electronics,” said Pankaj Mohindroo, Chairman, ICEA.
ECMS positions India as a resilient and trusted player in global electronics value chains, enhancing domestic value addition as design capabilities improve and Indian firms become global competitors.
Launched in April as a complement to the India Semiconductor Mission, the ECMS has an outlay of Rs 22,919 crore.
(IANS)
