Govt clears 31 electronics component applications worth Rs 7,877 crore under ECMS 2.0

The government on Monday approved 31 fresh proposals under the ambitious Electronics Component Manufacturing Scheme (ECMS), involving investments of Rs 7,877 crore, taking the total number of projects cleared across five tranches to 106 with cumulative investments surpassing Rs 69,000 crore.After awarding approval certificates to players, Union Electronics and IT Minister Ashwini Vaishnaw noted the scheme has attracted private investments that have exceeded targets set originally.“When we made the Electronic Components Scheme, the manufacturing scheme, we kept a target of Rs 59,000 crore. I am so glad the scheme has already achieved Rs 69,000 crore investment. Private investment is happening now, and it is coming in very crucial sectors,” Vaishnaw said