The Indian government has approved the first set of seven projects worth more than fifty five billion rupees to strengthen domestic production of electronics components. The approval was announced by the Ministry of Electronics and Information Technology on Monday.
The latest support includes four projects from Kaynes Circuits India. These projects cover the production of multi layer printed circuit boards, high density circuit boards, camera modules, and laminates. Other approved projects involve SRF, Syrma Strategic Electronics, and Ascent Circuits.
India is increasing its focus on building a strong electronics manufacturing industry. The government has launched several incentive programmes to support this goal. These include the production linked incentive schemes and the India Semiconductor Mission. The purpose is to attract both global and domestic companies and expand local manufacturing capabilities.
The new projects will be set up in Tamil Nadu, Andhra Pradesh, and Madhya Pradesh. The ministry said that these facilities are expected to produce components worth more than three hundred sixty five billion rupees. They are also expected to create more than five thousand one hundred direct jobs.
This move is designed to reduce the country’s reliance on imports and strengthen supply chains for important industries. These include defence, telecommunications, electric vehicles, and renewable energy.
India has seen strong growth in electronics manufacturing over recent years. Major global firms are expanding their supply chains in the country. Companies such as Apple and Google are increasing their production in India as they diversify away from China.
A report by a brokerage last year said that the Indian electronics manufacturing sector could rise to six trillion rupees by the financial year 2027. This would be a sharp increase from one point four six trillion rupees recorded in 2022.
The government believes these new investments will play a key role in the future of the electronics industry in India and help the country compete in global markets.
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