The Electronics Component Manufacturing Scheme (ECMS) has attracted investment proposals worth Rs 1.15 lakh crore, Union Minister for Electronics and IT Ashwini Vaishnaw said on Thursday, surpassing the scheme's original targets for investment, employment, and production by several folds.
The application window for the scheme closed on September 30, though applications for the capital equipment segment are still open.
| Parameter | Target under ECMS | Expected Outcomes (as per applications received) |
| Investment | Rs. 59,350 crore | Rs. 1,15,351 crore (-2X) |
| Production | Rs. 4,56,500 crore | Rs. 10,34,751 crore (-2.2X) |
| Employment | 91,600 persons | 1,41,801 persons (-1.5X) |
| Incentive Outgo | Rs. 22,805 crore | Rs. 41,468 crore (-1.8X) |
The government had initially set an ambitious investment target of Rs 59,000 crore, but the proposals indicate production estimates exceeding Rs 10 lakh crore.
Electronics and IT Secretary S Krishnan highlighted that the projects could generate employment for over 1.41 lakh people, well above the original target of 91,600 jobs.
The selection process will continue on a first-come, first-served basis, with early applicants being prioritized.
For the first time, investments have been proposed in areas such as SMD passives, laminates, flexible PCBs, anodes, and capital equipment.
Vaishnaw noted that almost every industry player has begun setting up design capabilities and teams, with around 60% of applications coming from MSMEs. He emphasised that these components will not only meet domestic demand but also cater to global markets.
The minister urged all states to seize the opportunity presented by the electronics sector and highlighted that the next focus will be on indigenizing raw materials required for electronics and semiconductor manufacturing, including ultra-pure materials.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
