The Indian government recently shared an encouraging update on the progress of its Electronics Manufacturing Scheme. According to information provided to Parliament, over $1B has been invested under the initiative as of this past June.
Minister of State for Electronics and IT, Jitin Prasada, noted in a written reply that incremental investment of INR 8,803 crore (USD 1.1B) was recorded under the Manufacturing of Electronic Components and Semiconductors Scheme. First launched in 2020, the program offers capital expenditure-based incentives to boost local production of items like electronic components, solar panels and more.
Significantly, the scheme has already facilitated over INR 18,000 crore (USD 2.2B) in total production. This shows the scheme is achieving its aim of strengthening domestic manufacturing capacities in this vital technology sector.
In addition, India’s production linked incentive program for large-scale electronics saw investment of INR 8,390 crore up to June. This separate initiative, which provides incentives on incremental sales, has enabled production exceeding INR 5 lakh crore (USD 61B) to date.
Both schemes are part of the Indian government’s continued drive to develop sustainable and globally competitive electronics manufacturing capabilities within the country. With interest from investors remaining strong, they appear to be delivering real progress on this important national priority.