Centre clears Rs 7,877 cr electronics component projects

The Ministry of Electronics and Information Technology (MeitY) on Monday approved 31 new applications and one expansion under the Electronics Component Manufacturing Scheme (ECMS), with a combined project value of Rs 7,877 crore. Of this, Rs 6,844 crore is for fresh projects, while Rs 1,033 crore is a capacity expansion by Wipro Global Engineering, Inc42 reports.

The fresh approvals include components not previously manufactured in India, such as electrolyte additives and hermetic terminals for defence-grade assemblies, The Hindu reports. Capital goods led the tranche with five applications worth Rs 1,451 crore, followed by camera modules (Rs 740 crore) and display modules (Rs 717 crore). Tamil Nadu received the most project approvals at seven, followed by Maharashtra and Haryana with six each, and Karnataka with five.

The ECMS has now approved 106 projects with a total investment of Rs 69,548 crore, surpassing its original target of Rs 59,350 crore. IT Minister Ashwini Vaishnaw said the scheme is building a localised electronics value chain, but reiterated concerns about industry progress on design capabilities, indigenous supply chains, quality standards and workforce training, Hindustan Times reports. The scheme has created 74,628 jobs against a target of 91,600.