Vaishnaw said the ECMS has attracted the highest-ever investment commitment of Rs 22,000 crore from a single player. For the first time, the scheme will see investments in SMD passives, laminate, flexible PCBs, anodes, and capital equipment.
He added that companies are not only setting up manufacturing facilities but also building design teams in India, strengthening the local electronics ecosystem. Notably, 60% of applications are from MSMEs.
While approved companies will be announced soon, the capital equipment segment remains open for fresh applications till April 2027. Two applicants under the scheme will require rare earth minerals, for which domestic sourcing efforts are underway.
“The next logical step is to manufacture the raw materials for these components within India,” Vaishnaw said, adding that the scheme has laid a strong foundation for India’s ambition to become a global hub in electronics manufacturing.
The Union Cabinet chaired by the Prime Minister Narendra Modi approved the Electronics Component Manufacturing Scheme in March this year. The scheme provides differentiated incentives to Indian manufacturers tailored to overcome specific disabilities for various categories of components and sub-assemblies so that they can acquire technological capabilities and achieve economies of scale.
