Ashwini vaishnav
A new revolution has started in the fields of electronics and technology in India. The Central Government’s Electronic Component Manufacturing Scheme (ECMS) has received investment proposals of Rs 1.15 lakh crore. This figure is more than the initial goals of the plan and it shows that there is going to be a large -scale electronics in the country.
Union Electronics and IT Minister Ashwini Vaishnav informed that many times more proposals have been received from the targets set of investment, production and employment under this scheme. He said that the process of application closed on September 30 and by then the government had received an investment proposal of Rs 1,15,351 crore.
Doubly more investment from the target
Union Information Technology Minister Ashwini Vaishnav said that the electronics focused on manufacturing and the trust developed in the last 11 years is turning into investment, production and employment today. We had set a very ambitious target of Rs 59,350 crore, while we have received applications for Rs 1,15,351 crore. Compared to the production target of Rs 4,56,500 crore, we have received production estimates of more than Rs 10,34,000 crore, which is more than doubled than our target.
New path of employment and self -sufficiency
These proposals will not only open investment, but also big employment opportunities. Union Information Technology Minister Ashwini Vaishnav said that we have targeted to provide employment to 91,600 people, while the required employment here will provide employment to 1 and a half times i.e. 1,41,000 people.
Small industries of the country also showed strength
The most interesting thing about this scheme is that about 60% of the applications have come from the country’s small and medium industries (MSME). This means that now small industries are also moving forward step by step with big players of electronics manufacturing.
Union Minister Ashwini Vaishnav said that many companies have prepared design teams and have planned to invest in new areas. For the first time, production is going to be done in areas like SMD passive, flexible PCB, laminate and capital equipment in the country.