(MENAFN- KNN India) New Delhi, Oct 4 (KNN) Launched earlier this year, the Electronics Components Manufacturing Scheme (ECMS) has drawn strong interest from domestic and global industry players, far exceeding initial targets.

According to the Ministry of Electronics and Information Technology (MeitY), the scheme has attracted 249 applications with anticipated investment commitments of Rs 1.15 lakh crore - nearly double the initial target of Rs 59,350 crore.

The scheme, approved by the Cabinet on May 1, 2025, with a fiscal outlay of Rs 22,919 crore, is expected to generate an estimated production value of Rs 10.35 lakh crore over the next six years, more than twice the targeted Rs 4.56 lakh crore.

The strong industry response is also projected to create 1.42 lakh direct jobs, well above the target of 91,600, along with a manifold increase in indirect employment opportunities.

Minister for Electronics and Information Technology (MeitY) Ashwini Vaishnaw, addressing a press conference at Electronics Niketan in New Delhi, described the response as a 'golden opportunity' for states to develop favourable ecosystems for electronics manufacturing.

He emphasized that the sector is among the largest generators of direct and indirect employment for India's youth.

Highlighting the scheme's strategic significance, Vaishnaw said ECMS builds on the momentum of earlier initiatives such as the Electronics Manufacturing Clusters (EMC) scheme, the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), and the Production Linked Incentive (PLI) scheme for mobile phones and IT hardware.

He noted that ECMS represents the 'natural progression' towards establishing India as a comprehensive global electronics manufacturing hub and supports the ambitious vision of creating a USD 500 billion domestic electronics ecosystem by 2030–31.

S. Krishnan, Secretary, MeitY, emphasized that the core objective is to deepen domestic value chains, substantially increase value addition within India, and subsequently integrate with global supply chains.

(KNN Bureau)

MENAFN04102025000155011030ID1110150450