Electronics Manufacturing Scheme receives strong response, investment proposal of Rs 1.15 lakh crore will open employment opportunities..

A new revolution has begun in India's electronics and technology sector. The Central Government's Electronic Component Manufacturing Scheme (ECMS) has received investment proposals worth ₹1.15 lakh crore. This figure far exceeds the scheme's initial targets and demonstrates the potential for large-scale electronics manufacturing in the country.

Union Electronics and IT Minister Ashwini Vaishnav stated that the proposals received under this scheme far exceeded the investment, production, and employment targets set. He stated that the application process closed on September 30, and by then, the government had received investment proposals worth ₹115,351 crore.

Investment More Than Double the Target
Union Information Technology Minister Ashwini Vaishnav stated that the focus on electronics manufacturing and the trust developed over the last 11 years are translating into investment, production, and employment. We had set a very ambitious target of ₹59,350 crore, but received applications for ₹115,351 crore. Against a production target of ₹456,500 crore, we received production estimates of over ₹1034,000 crore, more than double our target.

A New Path to Employment and Self-Reliance
These proposals will not only generate investment but also create significant employment opportunities. Union Information Technology Minister Ashwini Vaishnav stated that we had set a target of employing 91,600 people, while the expected employment will be one and a half times that, i.e., 141,000 people.

Small Industries in the Country Also Showed Their Strength
The most interesting aspect of this scheme is that nearly 60% of the applications came from the country's small and medium enterprises (MSMEs). This means that small industries are now moving ahead in tandem with the major players in electronics manufacturing.

Union Minister Ashwini Vaishnav stated that several companies have established design teams and are planning investments in new areas. For the first time, domestic production will also be underway in areas such as SMD passives, flexible PCBs, laminates, and capital equipment.

Disclaimer: This content has been sourced and edited from Zee Business. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.