Budget boosts electronics component scheme outlay to ₹40,000 crore
Electronics Component Manufacturing Scheme has attracted investment commitments far exceeding its target
 "Budget boosts electronics component scheme outlay to ₹40,000 crore")
The government is raising the outlay for the Electronics Component Manufacturing Scheme to Rs 40,000 crore, said Finance Minister Nirmala Sitharaman in her Budget speech on Sunday.
The scheme was announced on May 1 last year and has got 46 applications committing total investments of Rs 54,567 crore across 11 states. The investments are to create 51,000 jobs.
“The government now proposes to raise the scheme’s outlay to Rs 40,000 crore,” said Sitharaman.
Earlier this month, the Ministry of Electronics and Information Technology approved 22 proposals under ECMS with projected investment of INR 41,863 crore, projected production of INR 2,58,152 crore. These approvals are expected to generate 33,791 direct employment opportunities. This was part of the third tranche of the ECMS.
Some of the areas where the investments have been made include assemblies for camera module, display module, optical transceiver, components like PCBs, capacitors, connectors and others.
The government of India has been focused on increasing investment in manufacturing. With the intention of strengthening domestic supply chains, reduce import dependence for critical electronic components, and support the growth of high-value manufacturing capabilities in India.