New Approvals and Investment Projections
The central government has granted approval to 31 additional applications under the electronics components manufacturing scheme. According to official figures, these newly cleared projects are estimated to draw investments exceeding Rs 7,900 crore. Authorities anticipate that this influx will facilitate the production of electronic components valued at over Rs 82,000 crore and generate more than 9,500 employment opportunities.
Geographic Spread and Key Products
The approved proposals originate from 10 states across the country. Leading the list are Tamil Nadu with seven proposals, followed by Maharashtra and Haryana with six proposals each. During an event in New Delhi, Union Minister for Electronics and Information Technology Ashwini Vaishnaw handed over the approval letters to the respective applicants.
The approved manufacturing initiatives encompass a variety of specialized items:
- Acetylene black
- Speaker-microphones
- Optical transceivers
- Capacitors
- Coils
Expansion of the Manufacturing Scheme
With the latest addition of 31 proposals, the total number of company applications cleared under the electronics components manufacturing scheme has reached 106. The minister noted that while the initial target for investment stood at Rs 59,000 crore, commitments have now surpassed Rs 69,000 crore. Total estimated production under this framework is projected to cross Rs 5 lakh crore, with direct employment expectations exceeding 75,000 jobs.
Officials emphasized that the initiative extends beyond mere assembly by fostering domestic production of essential components and raw materials. State Minister for Electronics and Information Technology Jitin Prasad and Ministry Secretary S. Krishnan were also present at the event, highlighting the decade-long growth in domestic electronics manufacturing and exports as part of broader efforts to minimize import dependency.
Primary source: This independent news summary is based on official information from Akashvani News. Read the original document for complete details.