Electronics component manufacturing scheme: Under the Electronics Component Manufacturing Scheme, the Central Government has received investment proposals of Rs 1.15 lakh crore. Union Electronics and IT Minister Ashwini Vaishnav, while giving information, said that the proposals received are more than the investment, employment and production – three goals, as much as it was estimated while starting this scheme.

More investment than target

IT Minister Ashwini Vaishnav further said that the basic target of the government was to attract an investment of about Rs 59,000 crore, but in the closed application process, almost double investment proposals have been received from it. Currently, the application window for the electronics construction section closed on 30 September, while the window of the Capital Equipment Segment is still open.

Electronics and IT Secretary S.K. Krishnan said that these proposals are expected to create 1.41 lakh direct employment, which is more than the set target 91,600 jobs. Also, these investment will promote domestic production and reduce India’s import dependence on electronic components.

Employment generation and economic boost

At the beginning of the year, the Union Cabinet approved this scheme with a funding of Rs 22,919 crore. It aims to make India self -sufficient in electronics supply chains, draw global and domestic investment, increase production capacity and make Indian companies a part of Global Value Chain (GVCs).

The scheme was expected to initially invest Rs 59,350 crore, production of Rs 4,56,500 crore and about one lakh jobs. Now it is clear from the new investment proposals received that the plan has gone beyond its target and will help India to make a big center of electronics manufacturing globally.

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