India approves ₹5,500cr electronics projects to boost local manufacturing
India has just okayed seven big electronics projects worth ₹5,500 crore to boost local manufacturing.
Companies like Kaynes Circuits India (which will manufacture high-tech circuit boards and camera modules) and Syrma Strategic Electronics are among those setting up projects in Tamil Nadu, Andhra Pradesh, and Madhya Pradesh.
The goal? Rely less on imports and strengthen the country's supply chain.
Projects will create over 5,100 direct jobs
These projects are set to create over 5,100 direct jobs and could churn out components worth ₹36,559 crore.
It's all part of a bigger push to make India a global electronics hub by 2027 (the sector was valued at ₹1.46 trillion in 2022 and is aiming for ₹6 trillion).
With support from the government's Semiconductor Mission, India is getting serious about self-reliance in tech manufacturing.