What happened?
Union Minister Ashwini Vaishnaw announced the New Electronics Component Manufacturing Scheme, approved by the Cabinet, to enhance India’s role in global electronics supply chains. The scheme will support passive components, complementing the National Semiconductor Mission’s focus on active components. In addition, Union Minister Vaishnaw inaugurated VVDN Technologies’ new Surface Mount Technology Line and Mechanical Innovation Park in Manesar, Haryana. Electronics manufacturing in India has reportedly grown fivefold in the last six years, with exports increasing sixfold over the last decade.
Why it matters to India
The new manufacturing scheme is expected to significantly boost domestic production, generate employment, and reduce import dependency, moving India towards self-reliance in electronics. The growth in electronics manufacturing and the emphasis on design capabilities enhance India’s position in the global electronics landscape. The development of indigenous design tools and manufacturing capabilities is crucial for achieving technological self-reliance.