In a significant move toward making India a global electronics hub, the Ministry of Electronics and IT (Meity) announced on Monday the approval of 29 new applications under the electronics component manufacturing scheme.
This latest wave of approvals represents a cumulative investment of ₹7,104 crore, signaling a massive vote of confidence in India’s domestic manufacturing capabilities.
Key Highlights of the Announcement
Meity Secretary S. Krishnan outlined the ambitious scale of these new projects, highlighting their impact on the economy and the labor market:
Investment: A fresh capital infusion of ₹7,104 crore.
Job Creation: The projects are expected to generate 14,246 new jobs within the electronics segment.
Production Value: The new applications are projected to yield electronic components worth a staggering ₹84,515 crore.
Total Progress: With these 29 new entries, the ministry has now approved a total of 75 applications under the scheme.
Strengthening the “Make in India” Vision
The electronics component manufacturing scheme is a cornerstone of the government’s strategy to reduce import dependency. By incentivizing local production, Meity aims to build a robust supply chain that supports everything from smartphones to industrial electronics.
Secretary Krishnan’s announcement underscores a shifting landscape where India isn’t just assembling products but is increasingly focused on the high-value components that power them.
