The centre has approved 29 new applications under the electronics component manufacturing scheme (ECMS). The approved projects entail a total investment of Rs 71.04 billion and have the potential to generate production worth Rs 845.15 billion. According to the government, these projects are expected to create employment for 14,246 individuals.
The approvals mark key firsts for the domestic industry. For the first time, surface-mount device (SMD) passives, including tantalum polymer capacitors, will be manufactured in India. In addition, rare-earth magnets will be produced domestically from rare-earth oxides.
Among the approved companies, Dixon Display has committed the highest investment at Rs 11 billion, followed by Lohum Cleantech with Rs 7 billion and Indo-MIM with Rs 5.92 billion. ASM Technologies has proposed an investment of Rs 5.65 billion, while Syrma and Ratnaveer Precision have committed Rs 3.85 billion and Rs 3.38 billion respectively.
Further investments include Wangda Technologies (Rs 2.5 billion), Vishay Components (Rs 2.25 billion), OEN India (Rs 2.16 billion), BG Electrical (Rs 1.95 billion), Titan Engineering (Rs 1.92 billion) and Bharat FIH Limited (Rs 1.92 billion). Additional commitments come from Terminal Technologies (Rs 1.75 billion), Nest Advanced Technology (Rs 1.02 billion), SFO Technologies (Rs 0.82 billion), Molex (Rs 0.7 billion), TDK India (Rs 0.67 billion) and Vishay Precision (Rs 0.65 billion). The list also includes Permanent Magnets Limited (Rs 0.62 billion), VVDN Technologies (Rs 0.5 billion), Amphenol (Rs 0.5 billion) and Dhruv Industries (Rs 0.18 billion).
Under the programme, the government has so far approved projects across multiple categories with a total investment of Rs 616.71 billion, surpassing the target of Rs 593.50 billion. These projects have the potential to generate production worth Rs 4.51 trillion against the envisaged target of Rs 4.56 trillion. Overall, the approved projects are expected to create employment for 65,040 individuals, compared to the target of 91,600.