India's Electronics Manufacturing Gets a Boost with Record Investment Proposals

India's pioneering Electronics Component Manufacturing Scheme (ECMS) is set to double the nation's value addition in non-semiconductor electronic components. According to the electronics industry body Elcina, this could elevate local production to 40% within five years.

The ECMS has attracted investment proposals amounting to Rs 1.15 lakh crore, surpassing its initial target of Rs 59,000 crore. This figure underscores a growing confidence in India's potential as a manufacturing powerhouse. Elcina Secretary General Rajoo Goel hailed the scheme as a 'game changer' for the nation's electronics ecosystem.

Significant investments have been proposed for various segments, including mobile phone enclosures, flexible PCBs, and electro-mechanical components. The scheme has elicited participation from numerous global companies, projecting a strong growth trajectory for India's electronics industry.

(With inputs from agencies.)