India rubber stamps Rs 5,500 crore for electronics projects
India approved electronics manufacturing projects valued at over 5,500 crore rupees on Monday as the government works to expand domestic production of advanced components. The first seven approvals under the Electronics Components Manufacturing Scheme will support factories making circuit boards, camera modules, and copper-clad materials used in smartphones, cars, and medical equipment.
Investment pledges reached 1.15 lakh crore rupees by the end of September, double the original target of 59,350 crore rupees. Factories expect to generate output worth 10.35 lakh crore rupees across six years, more than twice the initial projections.
Electronics production climbed from 1.9 lakh crore rupees a decade ago to 11.3 lakh crore rupees last fiscal year. Mobile phone manufacturing grew 28 times to 5.45 lakh crore rupees as India became the world’s second-largest producer with more than 300 assembly plants.
