Seven electronics projects worth Rs 5,532 crore cleared under component scheme

The electronics components manufacturing scheme on Monday received another push as seven projects worth Rs 5,532 crore were cleared, marking a strong industry-led response to the government’s drive to localise the production of critical inputs. The approvals include four projects from the Kaynes Group and one each from Syrma Group, Ascent Circuits of Amber Group, and SRF.

The approved projects are expected to collectively generate employment for 5,195 people and help reduce the electronics import bill by around Rs 20,000 crore, Electronics and IT Minister, Ashwini Vaishnaw said.