India's Electronics Scheme drew double the targeted investment, says Ashwini Vaishnaw

New Delhi [India], October 2 (ANI): India's Electronics Component Manufacturing Scheme (ECMS) has drawn investment applications worth more than Rs. One lakh crore, nearly double the government's initial target, Union Minister of Electronics and Information Technology Ashwini Vaishnaw said on Thursday. He underlined that the surge in interest reflects the growing trust of global players in India's electronics ecosystem.
According to the Ministry of Electronics and Information Technology, the target envisaged under ECMS was Rs 59,350 crore, but applications received as of September 30, 2025, showed expected investment outcomes of Rs 1,15,351 crore. Similarly, production is expected to touch Rs 10,34,751 crore compared to the target of Rs 4,56,500 crore. Employment generation is also projected at 1,41,801 persons, almost 1.5 times the target of 91,600. Incentive outgo is likely to be Rs 41,468 crore, against the planned Rs 22,805 crore.
"The investment applications of more than Rs 1 lakh crore under the Electronics Component Manufacturing Scheme clearly show PM Narendra Modi's focus on electronics manufacturing and the trust developed by the world in India in the last 11 years. This trust is resulting in investment, employment, and extra production," Vaishnaw said during the briefing.
A press release by the ministry said that this was the first time India had attracted investment in advanced areas like SMD passives, laminates, flexible PCBs, anodes, and capital equipment.
It also highlighted that industry participation has been unprecedented, with one company committing the highest-ever investment of nearly Rs 22,000 crore. The release added that extensive consultations with stakeholders have ensured strong commitment from industry partners, who are keen to build a self-reliant and globally competitive electronics manufacturing base in India.
Under Semicon 1.0, 10 projects with a proposed investment of Rs 1.60 lakh crore have been approved, along with 23 design companies. Work on Semicon 2.0 is underway and has received encouraging responses from industry players.
On the non-semiconductor side, the Production Linked Incentive (PLI) for mobile phones has already attracted Rs 12,612 crore in investments. Mobile production in the last decade grew at a compound annual growth rate (CAGR) of 24 per cent, while exports surged at 57 per cent CAGR. The PLI for IT hardware is expected to draw Rs 2,430 crore, said the release.
The ECMS, notified in April 2025, aims to develop a strong component manufacturing ecosystem in the country. With the latest applications, the Ministry of Electronics and IT believes India is well-placed to move closer to the government's vision of creating a USD 500 billion domestic electronics manufacturing industry by 2030-31. (ANI)

(This article was generated from news agency ANI without modifications to the text.)