India Amplifies Electronic Manufacturing: 7 New Plants Under 'Make in India' Initiative
India is significantly bolstering its domestic electronic manufacturing with seven new plants, shifting reliance away from imports. The projects, part of the government's Make in India initiative, involve major players like Kaynes Circuits and aim to generate significant employment and production capacity.
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New strides in the Indian electronics sector are on the horizon, with Union Minister Ashwini Vaishnaw announcing the establishment of seven manufacturing plants under the Make in India initiative. The move seeks to decrease reliance on imports and bolster the domestic supply chain, he revealed in a media interaction on Monday.
These projects have secured substantial investments from industry leaders such as Kaynes Circuits India, SRF, Syrma Strategic Electronics, and Ascent Circuits. With a total investment of Rs 5,532 crore, the initiative is expected to yield Rs 44,406 crore in production value while creating over 5,195 jobs. Notably, Kaynes Circuits' projects in Tamil Nadu will focus on manufacturing multi-layer and HDI PCBs, among other components, contributing Rs 3,280 crore in investments.
Minister Vaishnaw elaborated on the components to be domestically produced, highlighting products like multi-layer PCBs, camera modules, and polypropylene films. This development aims to meet India's growing demands, achieving 20% self-sufficiency in PCBs, 15% in camera modules, and nearly complete self-reliance in laminates, potentially saving Rs 20,000 crore in import costs.
According to the Electronic Components Manufacturing Scheme, investments are expected to reach Rs 1,15,351 crore, surpassing targets significantly. Employment projections also exceed expectations, aligning with Prime Minister Modi's vision for a robust electronics manufacturing ecosystem and fortifying India's position in global exports.
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