Govt approves 29 more proposals under Electronics Component Manufacturing Scheme

• Government approves 29 new proposals under the Electronics Components Manufacturing Scheme (ECMS) with a projected investment of Rs 7,104 crore.
• IT Minister Ashwini Vaishnaw emphasizes the need for in-house design capabilities and Six Sigma quality standards for future support.
• Approvals include Lohum Cleantech's Rare Earth Permanent Magnet facility (Rs 700 crore investment) in Uttar Pradesh, a first for indigenous advanced materials.
• The 29 approvals are expected to create 14,246 direct employment opportunities and cover 16 products with cross-sectoral applications.
• Overall, 75 applications have been cleared under ECMS, totaling Rs 61,671 crore investment and 65,040 direct jobs, aiming to make India a global electronics supply chain hub.