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India approves 12 more electronics projects worth Rs 7,503 crore under ECMS

The approvals extend incentives for domestic electronics components and materials, a move that matters to manufacturers and investors in the sector.

Photo: Asianet Newsable

What happened

The Union government approved 12 additional applicants under the Electronics Component Manufacturing Scheme, with projects worth Rs 7,503 crore. pib.gov.in+2 Union Minister Ashwini Vaishnaw also launched the Semicon 2.0 web application portal, with applications now open for Pillars 2, 3 and 4. pib.gov.in Electronics and Information Technology Secretary S Krishnan said the approvals would establish domestic manufacturing of materials and capital goods, including the country's first commercial cathode material manufacturing unit. Asianet Newsable Vaishnaw said only serious players should apply for such schemes and that there is no place for frivolous applicants. BusinessLine

Around it

The approvals focus on the upstream segments of the electronics value chain, including electronics materials and manufacturing equipment. Asianet Newsable The government said the projects are expected to create thousands of jobs and strengthen the battery materials ecosystem. Asianet Newsable The government said that within a few years of its establishment, the India Semiconductor Mission has catalysed growth of the country's semiconductor ecosystem, with 12 projects approved under the first phase, Semicon 1.0. pib.gov.in

Sources

  1. pib.gov.inUnion Minister Ashwini Vaishnaw Launches Semicon 2.0 Web Application Portal and Announces 12 Approved Applicants under Electronics Components Manufacturing Scheme
  2. BusinessLineCentre approves 12 more applicants, worth over ₹7,500 crore under ECMS
  3. Asianet NewsableIndia Boosts Electronics Manufacturing With 12 New Projects Approved

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