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India has approved electronics manufacturing projects worth INR 418.63 billion, or about USD 4.64 billion, under its Electronics Component Manufacturing Scheme, aiming to strengthen domestic supply chains. Companies such as Samsung Electronics, Tata Electronics, and Foxconn will receive incentives to produce key components including mobile phone enclosures and camera sub-assemblies. The scheme supports India's broader push to reduce import dependence and attract global manufacturers. The approved projects span eight states and are expected to generate component output worth INR 2.58 trillion, or USD 28.62 billion, while creating around 34,000 jobs. The move aligns with India's goal to scale electronics production to USD 500 billion by 2031.
India has approved projects worth 418.63 billion rupees ($4.64 billion) from a host of companies to boost domestic manufacturing of electronic components under an incentive scheme, the country's IT ministry said on Friday. Advertisement
Global majors Samsung Electronics 005930.KS, Tata Electronics and Foxconn 2317.TW were among the companies whose projects were approved to receive government subsidies under the Electronics Component Manufacturing Scheme, which has an outlay of 229.19 billion rupees. The projects include the manufacture of enclosures for mobile phones, camera sub-assemblies and other components.
India has been stepping up efforts to boost electronics manufacturing, launching a series of incentive programs to attract global and domestic investors, expand local manufacturing capacity, reduce import dependence and strengthen supply chains across multiple sectors.
India's electronics manufacturing sector produced goods worth $125 billion in the year to March 2025. The government hopes to increase this to $500 billion by fiscal 2031.
The projects approved on Friday are spread across eight states and are expected to produce parts worth 2.58 trillion rupees ($28.62 billion), while employing about 34,000 individuals, according to the IT ministry.
Source: Reuters
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