Make in India 2.0: A ₹22,919 Cr Boost for Electronics Innovation

Image Source: ET Manufacturing

The government of India has announced the guidelines for the Electronics Component Manufacturing Scheme (ECMS), a ₹22,919 crore scheme that aims to bolster indigenous electronics manufacturing and position Indian companies in global value chains. Union Minister for Electronics and Information Technology Ashwini Vaishnaw launched the scheme, highlighting its importance in enhancing big-ticket investments and promoting innovation.

Key Highlights:

- The program shall be for a period of six years from FY 2025-26 through FY 2031-32 with one-year gestation period.
- ECMS will encourage not only the electronics industry, but also industry, power, and automobile.
- Production of electronics in India has increased five times, with exports having gone up sixfold over the decade.
- Hybrid incentives with job generation and economic growth as pegs have been brought in through the scheme.
- They are motivated to create design capability and achieve Six Sigma quality.
- Sarvam AI has been chosen to construct India's first indigenous foundational model of AI, a significant milestone in India's AI development.

The event was attended by more than 200 stakeholders consisting of government authorities, industry experts, and finance institutions, attesting to India's domestic and global interest in India's electronic manufacturing aspirations.

Sources: Business Standard, Press Information Bureau, NewsOnAir.