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India Approves Electronic Component Projects Worth $4.6 Billion
The Ministry of Electronics and IT approved projects with Rs 41,863 crore investment, expected to generate Rs 2,58,152 crore in production and create nearly 34,000 jobs.
- India's Ministry of Electronics and IT approved 22 proposals under the Electronics Components Manufacturing Scheme with a projected investment of ₹41,863 crore and production of ₹2,58,152 crore.
- The approved projects include contributions from Dixon, Samsung Display Noida Pvt Ltd, Foxconn, and Hindalco Industries, expected to create 33,791 direct employment opportunities across eight states, including Andhra Pradesh and Tamil Nadu.
- Union IT Minister Ashwini Vaishnaw announced the approvals, which focus on diverse electronic products, aiming to boost local manufacturing and reduce import dependence.
- Industry participants praised the government's move, emphasizing the importance of policy certainty and financial incentives to support a shift towards integrated manufacturing in India's electronics sector.
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India approves electronic component projects worth $4.6 billion
India has approved projects worth 418.63 billion rupees ($4.64 billion) from a host of companies to boost domestic manufacturing of electronic components under an incentive scheme, the country's IT ministry said on Friday.
·United Kingdom
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Third tranche of ECMS approved with Rs 41,863 crore investment covering 22 applications
The government on Friday approved the third tranche of projects under the Electronics Components Manufacturing Scheme (ECMS), as part of its continued push to strengthen India's electronics manufacturing ecosystem.
·India
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Total News Sources20
Leaning Left3Leaning Right4Center3Last UpdatedBias Distribution40% Right
Bias Distribution
- 40% of the sources lean Right
40% Right
L 30%
C 30%
R 40%
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