TN gets 7 more projects under ECMS scheme

Tamil Nadu has got 7 projects out of the further 31 proposals with projected investment of Rs 7,877 crore approved by the Ministry of Electronics and Information Technology (MeitY) under the Electronics Components Manufacturing Scheme (ECMS)

Listen to this article

The approved projects are spread across 10 States viz. Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Maharashtra, Tamil Nadu, Telangana, Uttar Pradesh and Uttarakhand.

From the approved projects, projected production of Rs 82,243 crore and are expected to generate 9,588 direct employment opportunities.

The projects cleared account for 23 per cent of applications, around 20 per cent of employment and 11 per cent of investment announced in the fifth tranche, Guidance Tamil Nadu said.

Tamil Nadu’s strength is also reflected in the progress of projects approved under earlier ECMS tranches.

Tata Electronics is already operational, while Kaynes Technology India Limited, Motherson Group, Yuzhan and other projects are progressing towards operations, demonstrating the State’s ability to translate approvals into manufacturing capacity on the ground, Guidance said.

Tamil Nadu is also working towards building a more comprehensive electronics components ecosystem, bringing companies across component sub-sectors into the State’s supply chain and enabling greater localization, it said.

Overall, 106 applications covering 30 products across 15 States have been approved under ECMS, amounting to expected investment of Rs 69,548 crore, projected production of Rs 5,34,101 crore and expected direct employment for 74,628 persons, an official release said.

These approvals will strengthen domestic supply chains, deepen value addition, reduce import dependence, and build advanced manufacturing capabilities, further advancing India’s emergence as a global electronics manufacturing hub, it said.

Latest

IIFL Finance to Raise Rs 5,000 Crore from Blackstone

The deal marks one of the largest Primary Private...

Commodity volatility to continue: MRF

“Raw material and logistics costs are expected to remain...

Hindustan Coca-Cola Holdings files for IPO

Hindustan Coca-Cola Holdings is Coca-Cola Company’s largest bottler within...

Arka Fincap to get funding from TPG

The strategic investment comprises an initial investment of Rs...

Newsletter

Don't miss

IIFL Finance to Raise Rs 5,000 Crore from Blackstone

The deal marks one of the largest Primary Private...

Commodity volatility to continue: MRF

“Raw material and logistics costs are expected to remain...

Hindustan Coca-Cola Holdings files for IPO

Hindustan Coca-Cola Holdings is Coca-Cola Company’s largest bottler within...

Arka Fincap to get funding from TPG

The strategic investment comprises an initial investment of Rs...

BlueStone records 45% growth in festive season

The growth was largely buyer transaction driven with average...

IIFL Finance to Raise Rs 5,000 Crore from Blackstone

The deal marks one of the largest Primary Private Equity Infusions in a Listed Indian NBFC. The CCPS will convert into equity shares at Rs...

Commodity volatility to continue: MRF

“Raw material and logistics costs are expected to remain elevated. We will continue to take measured steps to address these challenges, the Chennai-based company...

Hindustan Coca-Cola Holdings files for IPO

Hindustan Coca-Cola Holdings is Coca-Cola Company’s largest bottler within the Coca-Cola System in India based on units of Concentrate sold. The Offer is entirely an...