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India Approves 29 Electronics Manufacturing Proposals, Rs 7,104 Cr Investment

The government has approved 29 new applications under its electronics component manufacturing scheme, involving a cumulative investment of Rs 7,104 crore. These projects are expected to generate over 14,000 jobs and lead to the production of electronic components worth Rs 84,515 crore. S Krishnan, Secretary of MeitY, stated this initiative will strengthen India's position in the global electronics supply chain. He also highlighted that India's digital economy is expanding at twice the pace of the overall economy.

Key Points: Govt Clears 29 Electronics Proposals, Rs 7,104 Cr Investment

  • Rs 7,104 crore investment approved
  • Over 14,000 jobs to be generated
  • 29 new electronics manufacturing proposals
  • Production worth Rs 84,515 crore expected
2 min read

Govt clears 29 electronics manufacturing proposals, Rs 7,104 cr investment to generate over 14,000 jobs

Govt approves 29 electronics manufacturing proposals with Rs 7,104 crore investment, set to generate over 14,000 jobs and boost domestic production.

"This will strengthen India's position in the global electronics supply chain. - S Krishnan"

New Delhi, March 30

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.

Addressing the Nagaland Digital Entrepreneurship and Startup Fest in December last year, Krishnan highlighted the abundant talent among Naga youth, particularly their creativity and English proficiency, and emphasised the role of institutions like the National Institute of Electronics & Information Technology (NIELIT) in nurturing this potential.

"Out of 55 NIELIT centres in India 20 are located in the Northeast region," he mentioned.

"The digital economy is expanding at twice the pace of the overall economy," Krishnan noted.

Speaking on cyber security, he stressed that India cannot depend on foreign technologies in this critical area.

He described the Cyber Security Lab at NIELIT Kohima as state-of-the-art and among the best in the country, contributing significantly to cyber policing.

- IANS

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Reader Comments

R
Rohit P
Good step, but the proof will be in the execution. We've heard big numbers before. Hope these jobs are quality jobs with proper training and not just temporary contract work. Also, hope the benefits reach beyond just a few industrial clusters.
A
Aman W
The focus on the Northeast with 20 NIELIT centres is very encouraging. Talent is everywhere in India, not just in metros. Developing tech hubs in regions like Nagaland can bring balanced growth and reduce migration. Jai Hind!
S
Sarah B
Investing in domestic cyber security tech is non-negotiable. We can't rely on foreign solutions for our digital safety. Glad to see a state-of-the-art lab in Kohima. Hope more such facilities come up across the country.
V
Vikram M
Production worth ₹84,515 crore! That's the number to watch. If we can manufacture high-value components here instead of just assembling final products, it will be a game-changer for our exports and trade balance. 🚀
K
Kavya N
As someone from a smaller city, I hope these new units are set up in tier-2 and tier-3 cities as well. It will reduce pressure on Bangalore, Hyderabad, and Pune and develop infrastructure nationwide. The digital economy growing at double pace is promising for young graduates like me.

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