The Ministry of Electronics and Information Technology (MeitY) has approved 29 proposals worth Rs 7,104 crore ($860 million) under the Electronic Component Manufacturing Scheme. The selected firms include industry leaders like Foxconn, TDK subsidiaries, Dixon, Syrma SGS, and NeST Group.
These projects aim to generate an estimated Rs 84,515 crore ($10.3 billion) in production value and create around 14,246 job opportunities in India. The initiatives cover a wide range of electronic components, from rare-earth magnets to flexible PCBs, showcasing the government’s efforts to bolster domestic manufacturing capabilities and establish India as a hub for high-quality electronic components.
By fostering partnerships with key industry players, the government is laying the groundwork for a more self-reliant and technologically advanced ecosystem within the country.
Source: Tech-Economic Times