New Delhi, Oct 2 (SocialNews.XYZ) The government has received 249 applications under the Electronics Component Manufacturing Scheme (ECMS), covering a wide range of products from printed circuit boards (PCBs) to sub-assemblies for electronic goods, the Ministry of Electronics and Information Technology said on Thursday.
The overwhelming response highlights the growing interest of companies in expanding India’s electronics manufacturing sector.
Although IT Minister Ashwini Vaishnaw did not disclose the names of companies that applied, he mentioned that some firms have applied for incentives for multiple types of components.
Electro-mechanicals and multi-layer PCBs attracted the highest number of applicants, with 87 and 43 companies respectively.
One company alone committed an investment of around Rs 22,000 crore.
The government is also planning to encourage the production of materials as part of the upcoming second phase of the India Semiconductor Mission, which is currently being formulated.
While applications have closed for most products, the government will continue to accept applications for capital goods, which include heavy manufacturing equipment, until April 2027 due to the time needed to establish such facilities.
IT Secretary S. Krishnan said that incentives will be given on a “first come, first served” basis.
“In view of the interest in the scheme -- 249 applications in all, for making everything from printed circuit boards (PCBs) to so-called “sub-assemblies” in electronic goods,” Krishnan said.
“The government will disburse funds in a ‘first come first served’ way, where approved companies that are able to gestate their businesses and get products into the market faster will receive incentive payouts,” he said.
The Ministry has started scrutinising the applications and plans to fast-track approvals.
“Scrutiny has started for these applicants, and the Ministry “will fast track the approval process,” Krishnan said.
Launched in April as a complement to the India Semiconductor Mission, the ECMS has an outlay of Rs 22,919 crore.
It provides output- and employment-linked incentives to approved applicants and aims to promote the production of electronic components, rather than just finished goods and semiconductor fabrication, in order to strengthen India’s electronics manufacturing value chain.
Source: IANS
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