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

India's Electronics Component Manufacturing Scheme (ECMS) has received record investment proposals worth Rs 1.15 lakh crore, more than doubling the target. This aims to boost the local value addition in electronics manufacturing to 40% over five years. The scheme could significantly enhance India's manufacturing ecosystem.

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.)