Govt Clears 29 More Proposals Under ECMS Total Investment Tops Rs 61,000 Cr

(MENAFN- KNN India) New Delhi, Mar 31 (KNN) The Ministry of Electronics and Information Technology (MeitY) has approved 29 additional proposals under the Electronics Components Manufacturing Scheme (ECMS), following the earlier approval of 46 applications worth Rs 54,567 crore.

The new proposals, involving a projected investment of Rs 7,104 crore and production of Rs 84,515 crore, are expected to generate 14,246 direct jobs.

With this, a total of 75 applications have been cleared under the scheme, with total investments of Rs 61,671 crore and the potential to create over 65,000 direct jobs.

Focus on Key Components and Supply Chain

The new proposals cover 16 products, including display modules, key electronic components such as capacitors, connectors, Li-ion cells, resistors and flexible PCBs, as well as supply chain items like laminates and rare earth magnets.

The approvals also include India's first plants for SMD passive capacitors, flexible PCBs and rare earth permanent magnets.

Push for Domestic Capability

Union Minister, MeitY, Ashwini Vaishnaw, highlighted four priorities for electronics manufacturing, including building strong in-house design capabilities, developing a robust domestic supply chain with support for indigenous manufacturers, implementing Six Sigma quality standards, and establishing dedicated training centres to create a skilled workforce.

MeitY Secretary S Krishnan emphasised that significant opportunities remain, particularly in capital equipment and upstream supply chains, urging stakeholders to leverage the scheme to build resilient and diversified supply chains amid the current geopolitical situation.

(KNN Bureau)

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