India's Electronics Manufacturing Push: Key Highlights

The government has reportedly received investment proposals ranging from INR 7,500 Cr to INR 8,000 Cr under the new Electronics Components Manufacturing (ECM) scheme. Approximately 100 applications, from both Indian and international firms, have been submitted to establish electronics manufacturing units. The ECM scheme is a crucial step in India's journey to become a global manufacturing hub, building on the success of prior initiatives like the Production Linked Incentive (PLI) scheme. Scheme Overview: Launched by MeitY in March with an outlay of INR ~23000 Cr. Aims to attract INR ~60000 Cr in investments and generate INR ~4.5 lkh Cr in domestic production over six years. Targeting 91,600 new job creations. Key Components Targeted: Incentives focus on producing crucial items like camera modules, Li-ion batteries, multi-layer printed circuit boards, and enclosures for mobile/IT hardware. Domestic electronics production soared from INR 1.90 Lakh Cr in FY15 to INR 9.52 Lakh Cr in FY24. Electronics exports jumped from INR 0.38 Lakh Cr in FY15 to INR 2.41 Lakh Cr in FY24, becoming India's third-largest export commodity in FY25. India is now the second-largest smartphone manufacturer, producing 2.45 billion units worth INR 4.1 Lakh Cr in FY24