ECMS doubling value addition
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New Delhi: Record proposals submitted under India’s first scheme for non-semiconductor electronic components are likely to double local value addition in the production of finished goods to up to 40 per cent over the next five years, according to industry body Elcina.
The electronics component makers’ body has urged state governments to enhance ease of doing business (EoDB) to support the Centre’s Electronics Component Manufacturing Scheme (ECMS). ECMS has received investment proposals worth Rs1.15 lakh crore, which is more than double the target of Rs59,000 crore envisaged under the scheme.
“This is a game changer and has the potential to boost value addition of India’s electronics manufacturing eco-system from the current 15-20 per cent to 35-40 per cent over the next 5 years and beyond,” Elcina Secretary General Rajoo Goel said in a statement. A total of 249 companies have submitted applications, which will be screened by a committee before approval. Union Minister for Electronics and IT Ashwini Vaishnaw on October 2 announced that against a production target of Rs 4,56,500 crore, the proposal has come for manufacturing electronics components worth more than Rs 10,34,000 crore.
