Electronics Component Manufacturing Scheme Draws Massive Investments of Rs 1.15 Lakh Crore
The Electronics Component Manufacturing Scheme has attracted investment proposals worth Rs 1.15 lakh crore, far exceeding initial targets. Primarily driven by small and medium enterprises, the proposals surpass production and employment goals. With applications closed, a committee will review the 249 submissions, focusing on production and capital equipment segments.
- Country:
- India
The Electronics Component Manufacturing Scheme has drawn investment proposals totaling Rs 1.15 lakh crore, highlighted Union Minister for Electronics and IT Ashwini Vaishnaw on Thursday. This significant interest surpasses the initial production and employment targets manifold set when the scheme was formulated.
The scheme's application window closed on September 30, according to Vaishnaw, with around 60 percent of the applications coming from small and medium enterprises. This surge of confidence among smaller players marks a major shift for the industry.
Currently, a total of 249 applications will undergo scrutiny by a committee, and approvals are anticipated soon. With a focus on replacing China's dominance in electronics production supplies, the scheme also underscores the manufacturing of essential electronic components.
(With inputs from agencies.)
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