In a significant move to fortify India’s position as a global electronics hub, the Ministry of Electronics and IT (Meity) has approved 29 new applications under its flagship component manufacturing scheme.
The announcement, made on Monday by IT Secretary S. Krishnan, marks a substantial expansion of the nation’s industrial capacity. The newly sanctioned projects represent a cumulative investment of ₹7,104 crore, signalling robust private sector confidence in the government’s “Make in India” initiatives.
Economic Impact and Job Creation
The scale of the approved projects is expected to ripple through the domestic economy. According to Secretary Krishnan, the fresh wave of investment is projected to:
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Generate 14,246 new jobs directly within the electronics manufacturing segment.
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Yield a production value of ₹84,515 crore, significantly reducing reliance on imported sub-assemblies and parts.
Strengthening the Supply Chain
This latest round of approvals brings the total number of sanctioned projects under the Meity scheme to 75. By focusing specifically on components—the building blocks of smartphones, computers, and automotive electronics—the government aims to move beyond simple assembly and build a more resilient, end-to-end domestic ecosystem.
“The approval of these 29 applications underscores our commitment to deepening the electronics value chain in India,” a senior official noted, highlighting that the move is a strategic step toward the country’s goal of reaching a $300 billion electronics production target by 2026.
The scheme continues to be a cornerstone of India’s strategy to compete with regional manufacturing giants, providing the necessary fiscal support to offset the high costs of setting up sophisticated component units.
