TN powers ahead in Centre’s electronics push, bags 5 of 7 projects worth Rs 4,271 crore
The proposals accepted are for the manufacture of printed circuit boards or motherboard bas, camera modules, copper laminates, and polypropylene films (used in capacitors for consumer electronics).
Representative Image (PTI)
CHENNAI: The Union government has cleared seven projects under the Electronics Component Manufacturing Scheme (ECMS) worth Rs 5,532 crore, a bulk of which is from Tamil Nadu.
The Centre has approved 7 projects out of 249 proposals received under the ECMS, Union Electronics and IT Minister Ashwini Vaishnaw said on Monday. Sources told DT Next of the seven, five are from Tamil Nadu, together worth Rs 4,271 crore.
The proposals accepted are for the manufacture of printed circuit boards or motherboard bas, camera modules, copper laminates, and polypropylene films (used in capacitors for consumer electronics).
Among them are Kaynes Circuits India’s proposal to manufacture multi-layer PCBs, camera module sub-assemblies, HDI PCBs, and laminates, while Ascent Circuits would also produce multi-layered PCBs.
Other two projects approved are SRF from Madhya Pradesh and Syrma Strategic Electronics from Andhra Pradesh.
The end uses for these components include smartphones, drones, medical devices, robots, automotive, consumer electronics, aerospace and defence, wearable technologies and industrial, manufacturing segments.
Electronics and IT Secretary S Krishnan said the projects are likely to generate employment for 5,195 people.
"Meity closed the applications for the scheme on September 30, and quickly processed the applications and approved the first tranche. More will follow. The Ministry is keen to ensure that the projects get grounded quickly and commence production," Krishnan told DT Next.
The scheme received investment proposals worth Rs 1.15 lakh crore as on September 30, when the first phase closed, while the window for capital equipment continues to remain open.
The scheme is for a six-year period with a budget of $2.7 billion (Rs 22,919 crore). This is expected to result in an investment of $7 billion (Rs 59,350 cr) with an employment generation potential of 91,600 jobs.
The objective is to develop a robust component manufacturing ecosystem by attracting global and domestic investments across the value chain, leading to an increase in domestic value addition and increase the share of exports in the global electronic trade by integrating its domestic electronic industry through global value chains.
