Electronics Component Manufacturing Scheme Garners Over ₹1 Lakh Crore Investment: Ashwini Vaishnaw

India’s much awaited Electronics Components Manufacturing Scheme (ECMS) has received a strong response from the industry, with investment proposals worth ₹1.15 lakh crores coming in against the target of ₹59,350 crores.

Reflecting confidence in Swadeshi Electronic Components, Union Minister For Electronics and IT Ashwini Vaishnaw said the Electronics Component Manufacturing Scheme (ECMS) has attracted over Rs 1 lakh crore investments.  

Taking to X, formerly Twitter, he said, "₹1 lakh crore+ investment proposals under the Electronics Component Manufacturing Scheme reflect global confidence in Bharat under PM @narendramodi Ji’s leadership."

Addressing the media, the Union Minister Ashwini Vaishnaw said centre's emphasis on homegrown manufacturing of electronic goods was visible in the outlay of ₹22,805 crores under the ECMS scheme. .

As per the applications received, the centre is looking at proposed production of Rs 10.34 lakh crores. India had been aiming for production target of Rs 4.6 lakh crores.

Further, the government had been aiming for 91,600 jobs to be created, while the applications propose over 1.41 lakh jobs.

As per the proposed investments, the mobile and IT hardware divisions have garnered the highest interest with 16 applicants committing to investments of Rs 35,813 crores.

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Meanwhile, electro-mechanicals have received the most applications at 87. Total number of applications stand at 249. The largest proposal received is for an investment of over ₹22,000 crores

Ashwini Vaishnaw further revealed that over 60 per cent of the applicants were Medium and Small Enterprises. The minister also expressed optimism on how "Swadeshi electronics components will position Bharat as a global supplier."

On the issue of additional support from state administration, he appealed to all states to use this opportunity to support the industry with ease of doing business. He claimed that the electronics component industry will help in create jobs, which in turn with a a significant multiplier effect.

As proposed under the Scheme, the panel has been constituted for vetting and scrutinising the applications. MeitY Secretary S Krishnan clarified that the applications will be scrutinised on a ‘first come, first served’ basis. He assured that the scrutiny process is being fast tracked and that the government will soon announce the list of approved applicants.