Foxconn, Samsung among 22 electronics projects okayed

New Delhi: The Union Government on Friday approved of 22 new proposals under the electronics component production-linked incentive (PLI) scheme which is likely to result in investments of Rs 41,863 crore and create over 33,000 jobs.

The approved units are spread across eight states including Karnataka, Andhra Pradesh, Haryana, Madhya Pradesh, Maharashtra, Tamil Nadu, Uttar Pradesh and Rajasthan. These units are estimated to generate production worth Rs 2.58 lakh crore.

Union IT Minister Ashwini Vaishnaw handed over the approval letters to the selected companies that include Foxconn’s Yuzhan Technology India, Hindalco Industries, Dixon and Samsung Display Noida Pvt Ltd.

Speaking on the occasion, the minister claimed that the PLI scheme has strengthened India’s electronics manufacturing ecosystem, enabling large portions of domestic demand to be met indigenously.

With the latest tranche of approvals, a total of 46 applications have been approved under the Electronics Components Manufacturing Scheme (ECMS) so far across 11 states, with a total investment of Rs 54,567 crore, generating direct employment for about 51,000 people.

Out of the 24 projects approved in the earlier two tranches, there was no Chinese-linked company. However, the latest approval includes Chinese firms in joint ventures.

One in every five projects approved so far under the scheme will be located in Karnataka. Out of the total 46 approved units, 11 will be in Tamil Nadu while nine will be located in Karnataka. Other major locations include Maharashtra (7), Andhra Pradesh (5), Uttar Pradesh (4), Haryana (3), Madhya Pradesh (3), and one each in Gujarat, Rajasthan, Goa and Jammu & Kashmir.

The newly approved units will be involved in manufacturing of 11 target segment products, which have cross-sectoral applications such as mobile manufacturing, telecom, consumer electronics, strategic electronics, automotive and IT hardware products.

These 11 products include five bare components like PCBs, capacitors, connectors, enclosures and Li-ion cells; three sub-assemblies like camera module, display module and optical transceiver and three supply chain items like aluminium extrusion, anode material and laminate (copper clad).