Electronics component scheme takes off with Rs 5,532-crore projects; Tamil Nadu emerges as hub

The approved companies include Kaynes Circuits India Pvt Ltd, SRF Ltd, Syrma Strategic Electronics Pvt Ltd, and Ascent Circuits Pvt Ltd—with Tamil Nadu accounting for five of the seven projects.

The government announced the first set of approvals under the Electronics Component Manufacturing Scheme (ECMS) on October 27, clearing seven projects worth Rs 5,532 crore in investment and Rs 44,406 crore in projected output, in a move that marks India’s transition from assembling electronic goods to building their core components.

The approved companies include Kaynes Circuits India Pvt Ltd, SRF Ltd, Syrma Strategic Electronics Pvt Ltd, and Ascent Circuits Pvt Ltd—with Tamil Nadu accounting for five of the seven projects. Together, they are expected to create over 5,000 jobs in the first phase.

The announcement follows what officials described as an “unprecedented” industry response to ECMS. The Ministry of Electronics and IT (MeitY) received 249 applications with a total investment commitment of Rs 1.15 lakh crore, nearly double the scheme’s original target of Rs 59,350 crore. The proposals represent a projected production value of Rs 10.34 lakh crore and employment potential of 1.41 lakh, compared to initial estimates of Rs 4.57 lakh crore and 91,600 jobs.

“The components being approved today—multi-layer PCBs, copper laminates, camera modules, and polypropylene film—are the foundation of every electronic device,” said Union Minister for Electronics and IT Ashwini Vaishnaw. “With these plants, India will meet 20 percent of its domestic demand for high-density PCBs, 15 percent for camera modules, and 100 percent for copper laminates.”

Among the approved firms, Kaynes Circuits leads with four projects spanning PCBs, HDI boards, camera modules, and laminates, while SRF Ltd will produce polypropylene film, a key material used in capacitors. Syrma Strategic Electronics and Ascent Circuits will both manufacture multi-layer PCBs, critical for sectors ranging from consumer electronics to aerospace and defence.

S. Krishnan, Secretary, MeitY, said the surge in applications reflects strong investor trust.

“Against our initial investment target of Rs 59,350 crore, we have received proposals worth Rs 1.15 lakh crore,” Krishnan said. “This demonstrates the depth of industry confidence and the urgency to localise value addition.”

Vaishnaw said the approved projects will reduce India’s electronics import bill by Rs 18,000–20,000 crore annually, while creating a foundation for domestic design-led manufacturing. “With these plants, and the design capabilities being built in parallel, domestic value addition will cross 38 to 40 percent—about the same level that China has achieved,” he said.

The minister also noted that while Tamil Nadu has dominated the first list of approvals, future rounds will continue on a first-come, first-served basis, with several more batches planned before the scheme’s current phase ends in 2027.

A key focus in upcoming rounds will be capital equipment manufacturing, for which the application window remains open. The ministry is also working to indigenise raw materials and strengthen domestic critical mineral supply chains under a parallel mission.

“Our vision is comprehensive—we want to make the finished products, the components, the materials, and the machines that go into manufacturing all of these,” Vaishnaw said.

With this first wave of ECMS approvals, India’s electronics strategy has entered a new phase: one aimed at deepening the supply chain, securing self-reliance in key inputs, and positioning the country as a global supplier of components rather than just an assembly hub.