Govt OKs 29 New Electronics Projects: ₹7,100 Cr Boost to Create 14,000 Jobs

New Delhi, March 30: The government on Monday approved 29 new applications under its electronics component manufacturing scheme, aiming to boost domestic production and investment in the sector.

According to S Krishnan, Secretary at the Ministry of Electronics and IT (MeitY), these fresh proposals involve a cumulative investment of Rs 7,104 crore.

He added that the new investments are expected to generate around 14,246 jobs, providing a significant push to employment in the electronics manufacturing segment.

Krishnan also said that the approved projects will lead to the production of electronic components worth Rs 84,515 crore.

“This will strengthen India’s position in the global electronics supply chain,” he stated.

With the latest round of approvals, the total number of applications cleared under the scheme has now reached 75.

Meanwhile, last year, the top official said that India’s digital economy, which accounted for about 6-7 per cent of the country’s GDP before 2010 and had doubled by 2014, is now expanding at twice the pace of the overall economy.

Addressing the Nagaland Digital Entrepreneurship and Startup Fest in December last year, Krishnan highlighted the abundant talent among Naga youth, particularly their creativity and English proficiency, and emphasised the role of institutions like the National Institute of Electronics & Information Technology (NIELIT) in nurturing this potential.

“Out of 55 NIELIT centres in India 20 are located in the Northeast region,” he mentioned.

“The digital economy is expanding at twice the pace of the overall economy,” Krishnan noted.

Speaking on cyber security, he stressed that India cannot depend on foreign technologies in this critical area.

He described the Cyber Security Lab at NIELIT Kohima as state-of-the-art and among the best in the country, contributing significantly to cyber policing.

--IANS