India’s Electronics Push: SEMI IESA Backs Component Manufacturing Scheme

Image Source : ET Manufacturing

India’s electronics manufacturing sector is set for a major boost as SEMI India and the India Electronics and Semiconductor Association (IESA) announce measures to support the newly launched Electronics Components Manufacturing Scheme. With a budget outlay of Rs 22,919 crore, the initiative aims to attract investments of Rs 59,350 crore and generate over 91,600 direct jobs, strengthening India’s position in the global electronics supply chain.

Union Minister Ashwini Vaishnaw unveiled the scheme’s guidelines and portal, emphasizing its role in increasing domestic value addition and complementing India’s semiconductor policy. Industry leaders, including SEMI IESA President Ashok Chandak, praised the initiative, highlighting its potential to drive innovation and investment in core components such as multilayer PCBs, lithium-ion cells, and display modules.

The scheme introduces hybrid incentives combining turnover-linked and capital expenditure support, ensuring a balanced approach to fostering growth. Applications will open on May 1, with different timelines for sub-assemblies, bare components, and supply chain infrastructure.

Experts believe the initiative will significantly enhance India’s electronics ecosystem, integrating domestic firms into global value chains. With India’s electronics production surpassing Rs 11 lakh crore annually, the scheme is expected to accelerate the country’s journey toward becoming a global manufacturing hub.

Sources: Economic Times, Business Standard, MSN News, Times Now News, Press Information Bureau