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India Clears First ECMS Tranche With 7 Electronics-Component Projects Worth ₹5,532 Crore

Officials say the tranche could cut the import bill by up to ₹20,000 crore a year.

Overview

  • Four approvals went to Kaynes and one each to SRF, Syrma Strategic Electronics and Ascent Circuits under the Electronics Components Manufacturing Scheme.
  • The projects target multi-layer and HDI printed circuit boards, camera modules, copper clad laminates and polypropylene films.
  • Five units will be set up in Tamil Nadu with one each in Andhra Pradesh and Madhya Pradesh.
  • The ministry projects about ₹36,559 crore in output and just over 5,100 direct jobs from this batch.
  • Officials say the first phase drew 249 applications proposing ₹1.15 lakh crore in investment, the capital-equipment window remains open and further approvals will follow on a rolling, roughly fortnightly basis.