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Cabinet Approves Electronics Component Manufacturing Scheme
ECONOMY & POLICY

Cabinet Approves Electronics Component Manufacturing Scheme

The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the Electronics Component Manufacturing Scheme with a funding of Rs 229.19 billion. The scheme is a major step towards making India Atmanirbhar (self-reliant) in the electronics supply chain, attracting both domestic and global investments, and developing a robust manufacturing ecosystem.

Key Objectives and Expected Impact Investment Potential – The scheme aims to attract investments worth Rs 593.5 billion. Production Growth – Expected to result in the production of Rs 4565 billion worth of electronic products. Employment Generation – Will create 91,600 direct jobs along with several indirect employment opportunities.

Salient Features of the Scheme Differentiated Incentives – The scheme offers targeted incentives to overcome specific barriers in manufacturing various components and sub-assemblies India’s Electronics Manufacturing Growth India’s electronics sector has seen remarkable growth, with domestic production rising from Rs 1.90 trillion in 2014-15 to Rs 9.52 trillion in 2023-24, achieving a CAGR of over 17%.

Electronics exports have also surged from Rs 0.38 trillion in 2014-15 to Rs 2.41 trillion in 2023-24, with a CAGR exceeding 20%.

Strengthening India’s Position in Global Electronics Market Electronics is among the fastest-growing industries worldwide, playing a crucial role in economic and technological development. By boosting domestic manufacturing and exports, this scheme will enhance India's global competitiveness and strengthen its integration into international supply chains.

The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the Electronics Component Manufacturing Scheme with a funding of Rs 229.19 billion. The scheme is a major step towards making India Atmanirbhar (self-reliant) in the electronics supply chain, attracting both domestic and global investments, and developing a robust manufacturing ecosystem. Key Objectives and Expected Impact Investment Potential – The scheme aims to attract investments worth Rs 593.5 billion. Production Growth – Expected to result in the production of Rs 4565 billion worth of electronic products. Employment Generation – Will create 91,600 direct jobs along with several indirect employment opportunities. Salient Features of the Scheme Differentiated Incentives – The scheme offers targeted incentives to overcome specific barriers in manufacturing various components and sub-assemblies India’s Electronics Manufacturing Growth India’s electronics sector has seen remarkable growth, with domestic production rising from Rs 1.90 trillion in 2014-15 to Rs 9.52 trillion in 2023-24, achieving a CAGR of over 17%. Electronics exports have also surged from Rs 0.38 trillion in 2014-15 to Rs 2.41 trillion in 2023-24, with a CAGR exceeding 20%. Strengthening India’s Position in Global Electronics Market Electronics is among the fastest-growing industries worldwide, playing a crucial role in economic and technological development. By boosting domestic manufacturing and exports, this scheme will enhance India's global competitiveness and strengthen its integration into international supply chains.

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