The Central Government has approved 22 new projects under the Electronics Components Manufacturing Scheme (ECMS) to accelerate electronics manufacturing.

An investment of about ₹ 41,863 crore and production of about ₹ 2.58 lakh crore is expected from these projects. This initiative is likely to create around 33,791 direct jobs, which is a strong positive signal for employment.

The companies receiving approval include big industry players like Dixon, Samsung Display Noida, Foxconn’s Yuzhan Technology India and Hindalco Industries. This is the third tranche of ECMS, covering 11 product segments including mobile phones, automotive, strategic electronics and IT hardware.

Projects will be spread in 8 states, which will promote balanced regional growth. Overall, ECMS is being considered an important step towards taking India out of import dependency and making it a global electronics manufacturing hub.