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Utilities
In a significant move to strengthen India's electronics manufacturing sector, the Union Cabinet has approved a ₹23,000 crore production-linked incentive (PLI) scheme for electronic components. This initiative aims to enhance domestic production capabilities, create jobs, and integrate India into global value chains. The scheme is part of India's broader strategy to become a key player in the electronics system design and manufacturing (ESDM) sector, leveraging the "China Plus One" strategy adopted by many international companies seeking to diversify their supply chains.
Investment and Job Creation: The ₹23,000 crore scheme is expected to attract investments worth about ₹60,000 crore over six years. It will generate a significant production output of ₹4.57 lakh crore and create 91,600 direct jobs, along with additional indirect employment opportunities[1][2].
Focus Areas: The scheme primarily targets the manufacturing of passive electronic components, including resistors, capacitors, inductors, and printed circuit boards (PCBs). It also covers sub-assemblies and capital goods critical for self-reliance in electronics manufacturing[1][2].
Incentive Structure: The incentives offered under the scheme are differentiated based on job creation, turnover, and capital expenditure. This structure is designed to support various categories of components and sub-assemblies, helping them achieve technological advancements and economies of scale[1][3].
The electronics sector in India has experienced rapid growth over the past few years, with total production reaching USD 115 billion in 2024. This growth is largely attributed to the manufacturing of finished products like smartphones by companies such as Apple and Samsung. However, the industry still heavily relies on imports for non-semiconductor components. The new PLI scheme aims to reduce this dependency by promoting local production of essential components[3].
The scheme will benefit various sectors, including:
The Indian government has indicated openness to partnerships with international companies, including those from China, that can integrate Indian entities into global supply chains. For instance, Dixon Technologies has formed a joint venture with China's HKC to manufacture display modules. Such collaborations are set to play a crucial role in transforming India's electronics manufacturing landscape[3].
Deficit Reduction: The electronics component industry faces a significant deficit, which could increase to USD 248 billion by 2030 without government intervention. However, with the new scheme, this deficit is expected to decrease by USD 146 billion, lowering it to USD 102 billion by 2030[2].
Export Potential: Beyond import substitution, India is aiming for export-led growth in electronics manufacturing. The production of electronic components is not only critical for domestic use but will also be key in positioning India as a global supplier[4].
The government is planning regulatory reforms tailored to the electronics manufacturing industry, recognizing its unique operational requirements. This includes ensuring clean, air-conditioned environments necessary for electronics production and revising labor regulations to accommodate large-scale employment in the sector. Such reforms are expected to further bolster the growth of the industry, aligning with Prime Minister's goal of reaching USD 300 billion in electronics output by 2030[4].
In conclusion, the ₹23,000 crore e-parts production scheme marks a significant step forward for India's electronics sector, poised to enhance domestic value addition and make India a critical player in the global electronics supply chain.
