Electronics mfg scheme attracts unprecedented Rs 1.15 lakh crore, highlighting global trust in India: Vaishnaw

Union Minister Ashwini Vaishnaw

The Electronics Component Manufacturing Scheme (ECMS) has attracted investment proposals worth Rs 1.15 lakh crore, Union Minister for Electronics and IT Ashwini Vaishnaw said on Thursday, surpassing the scheme's original targets for investment, employment, and production by several folds.

The application window for the scheme closed on September 30, though applications for the capital equipment segment are still open.

Electronics and IT Secretary S Krishnan highlighted that the projects could generate employment for over 1.41 lakh people, well above the original target of 91,600 jobs.

The selection process will continue on a first-come, first-served basis, with early applicants being prioritized.

For the first time, investments have been proposed in areas such as SMD passives, laminates, flexible PCBs, anodes, and capital equipment.

Vaishnaw noted that almost every industry player has begun setting up design capabilities and teams, with around 60% of applications coming from MSMEs. He emphasised that these components will not only meet domestic demand but also cater to global markets.

The minister urged all states to seize the opportunity presented by the electronics sector and highlighted that the next focus will be on indigenizing raw materials required for electronics and semiconductor manufacturing, including ultra-pure materials.