Centre clears Rs 7,104 cr electronics manufacturing investment proposals
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New Delhi: The government on Monday approved 29 new applications under its electronics component manufacturing scheme, aiming to boost domestic production and investment in the sector.
According to S Krishnan, Secretary at the Ministry of Electronics and IT (MeitY), these fresh proposals involve a cumulative investment of Rs 7,104 crore.
He added that the new investments are expected to generate around 14,246 jobs, providing a significant push to employment in the electronics manufacturing segment.
Krishnan also said that the approved projects will lead to the production of electronic components worth Rs 84,515 crore.
“This will strengthen India’s position in the global electronics supply chain,” he stated.
With the latest round of approvals, the total number of applications cleared under the scheme has now reached 75. Meanwhile, last year, the top official said that India’s digital economy, which accounted for about 6-7 per cent of the country’s GDP before 2010 and had doubled by 2014, is now expanding at twice the pace of the overall economy.
