Govt approves 17 projects under electronics component PLI scheme worth Rs 7,172 crore

Union IT minister Ashwini Vaishnaw with IT secretary S Krishnan and others during an event in New Delhi

The Central government has cleared another tranche of applications under the Electronic Component Manufacturing Scheme with a total investment of Rs 7,712 crore, IT secretary S Krishnan said on November 17.

Krishnan, while addressing an event in New Delhi, said that the government has approved 17 applications in the current tranche out of 249.

Interestingly, the current tranche of applications also secured its first investment from Jammu and Kashmir. Other locations where the companies hail from include Uttar Pradesh, Madhya Pradesh, Karnataka, Maharashtra, Tamil Nadu and several others.

The 10 of the 17 approvals include Aequs Consumer Products Private Limited with a cumulative investment of Rs 1,500 crore, and production of Rs 7,669 crore; Secure Circuits; TE Connectivity India Private Limited with investment of Rs 612 crore, Jabil Circuit Private Limited with investment of Rs 957 crore; Zetfab; Zetchem with an investment of Rs 55 crore, Micropack Pvt with an investment of Ra 54 crore; Asux Safety Components; Uno Minda with an investment of Rs 264 crore, AT&S India; HI-Q; Infopower Technologies Private Limited; Syrma Mobility Private Limited with an investment of Rs 250 crore, J&K-based Meena Electrotech Private Limited with an investment of Rs 111 crore.

“The basic objective is to deepen value chain in India. World is looking at diversification of value chains, and India is a key player in that,” Krishnan said.

Union IT minister Ashwini Vaishnaw said, “To achieve long term success we have to achieve three major things: we have to develop our design teams whatever may be the hard-work that we have to put in, it has to be done. Secondly, our concentration has to be on six sigma quality in every product you manufacture., the focus should be on developing Indian suppliers and ensure they meet quality standards. These are my three asks. We will continue to engage with you on this.”

Additionally, Vaishnaw said that the government will come up with a skilling framework for the electronics sector.