ECMS generates twice the expected interest

The Electronics Component Manufacturing Scheme (ECMS), launched by the government in April this year, has attracted investment commitments of over ₹1.15 lakh crore, nearly twice the original target of ₹59,350 crore, Union IT minister Ashwini Vaishnaw said on Thursday.

- Sejal Sharma

The 249 applications projected a production value of about ₹10.3 lakh crore.

(ISTOCKPHOTO)

“It's a historic number. Unprecedented applications have come in the ECMS. This shows that the global trust in India for electronic manufacturing is being converted into investments, production and employment,” Vaishnaw said at a press briefing. On the Cabinet's ECMS outlay of ₹22,919 crore being exceeded in the investment round, the government has said the scheme is limited by available funds.