India’s government is seeing a big win in its push to grow the electronics sector. On Thursday, Union Minister for Electronics and IT Ashwini Vaishnaw revealed that companies have submitted investment proposals totaling Rs 1.15 lakh crore under the new Electronics Component Manufacturing Scheme. This move aims to ramp up local production of electronic components and devices right here in India.
Vaishnaw highlighted how these massive proposals reflect Prime Minister Narendra Modi’s strong emphasis on electronics manufacturing. “Over the last 11 years, the world has built real trust in India,” he said. “That trust is now driving investments, creating jobs, and boosting production.”
The scheme has already surpassed its goals. When planners designed it, they expected around Rs 59,000 crore in investments. But the actual proposals came in at Rs 1,15,351 crore—nearly double the target. Vaishnaw noted that the numbers also beat expectations for jobs and output in the India electronics manufacturing space.
The application deadline for most parts of the scheme ended on September 30. However, companies can still apply for the capital equipment segment. Back in March, the Union Cabinet greenlit the initiative with a Rs 22,919 crore budget spread over six years.
At its core, the Electronics Component Manufacturing Scheme seeks to pull in huge investments to build a robust ecosystem for electronic components in India. It offers incentives to local manufacturers, helping them scale up, add more domestic value, and link up with global value chains. This should strengthen India’s role in the worldwide electronics industry.
Originally, the scheme set sights on Rs 59,350 crore in investments, Rs 4,56,500 crore in production value, and 91,600 direct jobs—plus plenty of indirect opportunities to fuel growth in electronics manufacturing jobs.
Electronics and IT Secretary S. Krishnan shared even better news: The proposals promise to create 1.41 lakh jobs, way above the initial target of 91,600. This surge shows strong investor confidence and could transform India’s electronics sector into a global powerhouse.
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