The Union Ministry of Electronics and IT on Friday said it has approved 22 new proposals under the Electronics Components Manufacturing Scheme (ECMS) with a projected investment of Rs 41,863 crore and production of Rs 2,58,152 crore.
The approved proposals include those from Dixon, Samsung Display Noida Pvt Ltd, Foxconn (Yuzhan Technology India Pvt Ltd) and Hindalco Industries. These approvals are expected to spur 33,791 direct employment opportunities.
In continuation of the approvals for 24 applications for an investment of Rs 12,704 crore announced earlier, the ministry has further approved 22 proposals under the ECMS with a projected investment of Rs 41,863 crore and projected production of Rs 2,58,152 crore.
Union IT Minister Ashwini Vaishnaw gave out the approval letters to the players on Friday. As per a background note circulated by the ministry on the third tranche of approvals, the approval includes the manufacturing of 11 target segment products that have cross-sectoral applications, like mobile manufacturing, telecom, consumer electronics, strategic electronics, automotive and IT hardware.
The approved projects are spread across eight states, including Andhra Pradesh, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Tamil Nadu, Uttar Pradesh and Rajasthan, and reflect the government's focus on geographically balanced industrial growth and expansion of electronics manufacturing across the country.
Of 11 products, five are bare components like PCBs, capacitors, connectors, enclosures, and li-ion cells; three pertain to sub-assemblies like camera modules, display modules, and optical transceivers and three are supply chain items like aluminium extrusion, anode material and laminate.
The background note said the approvals aim to significantly strengthen domestic supply chains, reduce import dependence for critical electronic components and support the growth of high-value manufacturing capabilities in India.
Also read: 7 projects under electronics component scheme okayed
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