7 Electronics Projects Worth ₹5,532 Crore Approved to Cut Import Bill
The Indian government has cleared seven major electronics component manufacturing projects worth ₹5,532 crore under the Electronics Components Manufacturing Scheme. Union Minister Ashwini Vaishnaw announced these approvals, stating they are expected to reduce India’s import bill by approximately ₹20,000 crore.
Key Takeaways
- Seven projects approved from 249 proposals received
- Total investment of ₹5,532 crore across multiple companies
- Expected import bill reduction of ₹20,000 crore
- First-ever indigenous camera module production without foreign partners
Approved Components and Companies
The approved projects will manufacture critical electronic components including multi-layer printed circuit boards (PCBs), camera modules, copper laminates, and polypropylene films used in capacitors for consumer electronics.
Four projects have been approved for Kaynes Group with a total investment of ₹3,280 crore, covering multi-layer PCBs worth ₹4,300 crore, camera module sub-assembly worth ₹12,630 crore, and high-density interconnect PCBs worth ₹6,875 crore.
Other approved projects include:
- Ascent Circuits (Amber Group): ₹991 crore investment for multi-layer PCBs worth ₹7,847 crore
- Syrma Strategic Electronics: ₹765 crore investment for multi-layer PCBs worth ₹6,933 crore
- SRF Limited: ₹496 crore investment for polypropylene film production worth ₹1,311 crore
Domestic Manufacturing Milestones
This approval marks a significant milestone as camera modules will be manufactured in India for the first time without foreign technology partnership. These modules will serve smartphones, tablets, laptops, and CCTV systems.
Minister Vaishnaw highlighted that the approved PCB projects will initially meet 27% of domestic demand, while camera modules will cover 15% of requirements. Additionally, India will produce copper laminates for capacitors for the first time, achieving 100% self-sufficiency in this critical component.
“Seven plants under electronics components have been approved. In the coming days, many more projects will be approved. We expect these projects to reduce the import bill by around ₹20,000 crore,” Vaishnaw stated.
