Government approves 12 projects worth over ₹7,500 crore under Electronics Component Manufacturing Scheme

Key facts

• The government approved 12 projects under the Electronics Component Manufacturing Scheme (ECMS) with a total investment of over ₹7,500 crore, expected to generate production worth ₹39,045 crore.
• The ECMS has a total outlay of ₹40,000 crore and aims to strengthen India's domestic electronics component manufacturing ecosystem.
• Indo Asia Copper, a subsidiary of Kiri Industries Ltd, made the largest investment of ₹3,546 crore in Gujarat, while TACC, a subsidiary of HEG Advanced Materials, will invest ₹2,438 crore in Madhya Pradesh.
• Other approved projects include Vidyuta Materials (₹400 crore, Uttar Pradesh), Enerfolie (₹236 crore, Gujarat), Voltix Semicon (₹65 crore, Maharashtra), Rockwell Automation (₹91 crore, Tamil Nadu), Wipro Pari Robotics (₹120 crore, Maharashtra), TDConnex (two projects of ₹103 crore and ₹50 crore, Tamil Nadu), Modern Automotives (₹75 crore, Punjab), NeST ICELR (₹363 crore, Tamil Nadu) and Surface Modification Tech (₹17 crore, Karnataka).
• With the latest approvals, the total number of projects approved under the ECMS reached 118, with cumulative investments of ₹77,000 crore against a target of ₹59,350 crore and expected production of ₹5,73,146 crore against a target of ₹4,56,500 crore.
• Electronics and IT Minister Ashwini Vaishnaw said the money allocated to the ECMS would return to the government in the form of taxes.
• Vaishnaw said only serious, technology-focused applicants would be welcome under India Semiconductor Mission 2.0, for which the government has launched a web portal for applications.
• India aims to attract three large equipment manufacturers and five manufacturers of chemicals and gases under its electronics manufacturing efforts.