Government's Initiatives for Electronics Manufacturing
The Indian government has attracted proposals worth ₹7,500 crore-8,000 crore for setting up electronic component manufacturing and assembly facilities under the Electronics Components Manufacturing Scheme (ECMS).
Scheme Details
- The ECMS, announced in April, is aimed at promoting the production of electronic components, including display and camera modules, non-surface mount devices, multilayer PCBs, and lithium-ion cells.
- Incentives are provided for manufacturing essential components such as resistors, capacitors, inductors, transformers, and more used in battery packs, mobile phones, laptops, and tablets.
- The scheme will run for six years, starting this financial year.
Strategic Importance
- Electronics manufacturing has grown at a CAGR of 17% over the past decade, reaching a value of ₹9.52 trillion by FY24.
- Exports of electronics have increased by 20% CAGR to ₹2.41 trillion.
- The scheme is part of a broader strategy to enhance semiconductor manufacturing and the production of finished electronics products.
