MeitY approves 29 projects worth Rs 7,104 crore under 4th tranche of ECMS; to generate over 14,000 jobs
New Delhi, March 30
The Ministry of Electronics and Information Technology has approved 29 applications under the fourth tranche of the Electronics Component Manufacturing Scheme, involving a total investment of Rs 7,104 crore, the ministry said on Monday.
The approved projects are expected to generate 14,246 jobs and lead to an estimated production output of Rs 84,515 crore, according to an official statement.
The ministry said the latest approvals include India's first manufacturing facility for rare earth permanent magnets from rare-earth oxides, marking an important step towards strengthening domestic capabilities in critical electronic components.
Among the approved proposals, six applications in the capital goods segment account for investments worth Rs 1,683 crore, while two applications for display module sub-assembly manufacturing involve investments of Rs 1,350 crore.
In addition, one application for rare earth permanent magnet manufacturing has been approved with an investment of Rs 700 crore, marking the first such manufacturing initiative in the country using rare-earth oxides.
The ministry also approved four applications in the relays segment, involving an investment of Rs 554 crore, and one application for lithium-ion cells for digital applications, with an investment of Rs 500 crore.
According to the ministry, the ECMS scheme has already seen significant progress towards its overall targets.
Against the ECMS investment target of Rs 59,350 crore, approvals so far have reached Rs 61,671 crore, the statement said.
The ministry added that approved projects under the scheme are expected to generate production worth Rs 4,51,858 crore, close to the scheme's target of Rs 4,56,500 crore.
The government aims to strengthen India's electronics manufacturing ecosystem by promoting domestic production of critical components and reducing import dependence.
— ANI
Reader Comments
Hope these jobs are accessible to skilled youth across states, not just in major metros. The production output target of ₹84,515 crore sounds impressive, but execution and timely completion will be key.
First manufacturing facility for rare earth magnets? That's a game-changer for electronics and EV sectors. We've been too dependent on China for these critical components. Great strategic move!
While the investment numbers are encouraging, I hope there's equal focus on the quality of these jobs and ensuring they come with proper training and fair wages. Sustainable growth matters more than just headline figures.
The ₹500 crore for lithium-ion cells is a good start, but we need much more to compete globally. Battery tech is the future. Hope this initiative scales up quickly. Jai Hind!
Good to see the scheme exceeding its investment target (₹61,671 cr vs ₹59,350 cr target). Shows investor confidence. Now the challenge is to convert these approvals into actual factories on the ground. All the best to MeitY!
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