Centre launches portal, guidelines for electronics component manufacturing scheme; aims for large investments
New Delhi [India], April 27 (ANI): Centre has launched guidelines and portal for the Electronics Component Manufacturing Scheme (ECMS) to develop a strong component ecosystem by attracting large investments, both global and domestic, in the electronics component manufacturing ecosystem.
The Union Cabinet, chaired by Prime Minister, had approved the Electronics Component Manufacturing Scheme (ECMS), which was notified on April 08, 2025.
The scheme aims to develop strong manufacturing capacity and capabilities and integrate Indian companies with Global Value Chains (GVCs).
Speaking at the launch, Union Minister stated that electronics production has grown five-fold and exports have grown more than six-fold, with export CAGR exceeding 20 per cent and production CAGR over 17 per cent.
He added that mobile phones, servers, laptops, and IT hardware have seen very strong progress and that the industry is poised to take off significantly.
Vaishnaw described ECMS as a horizontal scheme that will support not just electronics but also industrial, power, automobile sectors and more. He emphasized that a complete ecosystem for electronics manufacturing is coming into place across the country.
Underscoring the importance of innovation and quality, the Minister said that many companies have now established design teams, and it is essential that every participant develops such teams.
Stressing on quality, he called for achieving Six Sigma standards across the sector, warning that those not adhering to quality benchmarks would be cut short. He said the twin focus on design capability and quality excellence would drive India's leadership in electronics.
Vaishnaw also spoke about India's advances in AI and data-driven solutions. He informed that 350 datasets have already been uploaded on AI Kosh, and four AI tools developed by IITs will soon be released.
He further stated that techno-legal solutions are being developed to strengthen the electronics ecosystem.
The Minister informed that ECMS has a strong pipeline of projects ready for approval and expressed confidence that this marks just the beginning of India's rapid growth as a global electronics hub. (ANI)
This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
10 minutes ago
- The Hindu
Australia-India Youth Dialogue announces delegates for 2025
Australia-India Youth Dialogue (AIYD), the well-established dialogue featuring selected young achievers from the two countries has announced its delegates for 2025. For more than a decade, Australia-India Youth Dialogue has been gathering 30 young achievers from the two countries for an annual dialogue. This year's dialogue will take place in Mumbai and Delhi between September 15 and 18, 2025. 'This year's Dialogue will explore the Future of Leadership. Delegates will learn from speakers and engage in a range of discussions as they consider what kind of leadership we need in politics, the knowledge economy, sport, business and entrepreneurship, arts and culture for a stronger Australia-India relationship,' said the Australia India Youth Dialogue in a press note released on this occasion. The announced list includes 28 names and the press note said that two names — one each from Australia and India — will be announced soon. Among this year's Australian delegates are Bharat Sundaresan, cricket commentator and writer, Clare Murphy Business Development Adviser, International City of Melbourne, Nhat Nguyen, Mission Manager, Space Machines Company, Shuba Krishnan, journalist and commentator and Vanessa Brettell, 2025 Australian of the Year Local Hero. The Indian side includes Alicia Souza, illustrator, Ambi Subramaniam, musician, Deepthi Bopaiah, CEO GoSports Foundation, Paras Parekh, Advisor, Ministry of Ports, Shipping, and Waterways and Shruti Chandra, Head of Government Relations & Public Policy among others. Australia and India upgraded bilateral relationship to Comprehensive Bilateral Relationship in 2020 to covering a wide spectrum of dialogue and interactions to enhance understanding between the two sides. Over the years, the focus areas of the relationship has also included young achievers in different domains who have displayed potential to contribute to the bilateral relationship. Over the past several decades, India's relation with Australia has expanded to include both state-level and inter-society dialogue. 'Whether it's climate, digital disruption, social cohesion or shifting geopolitical dynamics, AIYD is a space where young leaders exchange ideas and form partnerships that last well beyond the Dialogue itself. Building on last year's discussions, this year's theme — The Future of Leadership — continues our exploration of how leadership must evolve in response to the challenges of the coming decade,' said Michelle Jasper, AIYD co-chair.
&w=3840&q=100)
Business Standard
10 minutes ago
- Business Standard
'UK trade pact will help us, India must sign more', says RBI Guv Malhotra
Reserve Bank of India Governor Sanjay Malhotra on Friday welcomed the newly signed Free Trade Agreement (FTA) between India and the United Kingdom (UK), emphasising that it will benefit many sectors of the Indian economy. Speaking at the FE Modern BFSI Summit, Malhotra said that global cooperation through multilateral agreements has slowed down, making such bilateral trade deals more important than ever. 'Hopefully it [FTA with UK] should help us... that is the way going forward now, because unfortunately multilateralism seems to have taken a back seat,' he said, as quoted by news agency PTI. Malhotra said India should pursue similar trade agreements with other countries. He added that negotiations with the United States are already in 'advanced stages'. 'It should help various sectors in our manufacturing as well as on the services side,' he said, referring to the UK deal. Malhotra further mentioned that several other trade pacts are currently under negotiation. He also expressed support for US Federal Reserve Chairman Jerome Powell, who is facing criticism from President Donald Trump. 'He [Powell] is doing a very good job. Maintaining independence of the central bank is very important. I think he has done a commendable job,' Malhotra said. India-UK free trade agreement India and the UK on Thursday signed the FTA, officially called the Comprehensive Economic and Trade Agreement (CETA), during Prime Minister Narendra Modi's two-day visit to London. Approved by the Union Cabinet earlier this week, the agreement is expected to increase bilateral trade by $34 billion annually. Under the trade agreement, Indian farmers and exporters will get duty-free access to the UK market for a range of agricultural products such as fruits, vegetables, cereals, spices (like turmeric, pepper, and cardamom), and processed foods including mango pulp, pickles, and ready-to-eat items. The government expects agricultural exports to grow by more than 20 per cent in the next three years, helping India meet its target of $100 billion in agri-exports by 2030. Marine products from India will also enjoy zero tariffs in the UK, which could lead to better earnings for Indian fishermen due to higher procurement prices. The chemical industry is likely to see a significant jump in exports to the UK — by 30-40 per cent — reaching $650-750 million in 2025-26. Tariff cuts to boost UK-India trade India will also gradually reduce import tariffs on several British products. For instance, duties on whisky will drop from 150 per cent to 40 per cent over ten years. British cars will see import taxes fall from over 100 per cent to 10 per cent, under a quota system. Tariffs on gin, cosmetics, and medical devices will also be reduced. In return, the UK will offer zero-duty access to 99 per cent of Indian exports, including textiles, leather goods, gems, jewellery, marine items, toys, and sports equipment. The agreement will also open up opportunities for Indian companies to bid for public projects in the UK in sectors such as healthcare, transport, and energy. [With agency inputs]
NDTV
10 minutes ago
- NDTV
AR Rahman Meets Sam Altman, Announces Collaboration For His AI-Powered Project Secret Mountain
New Delhi: AR Rahman has achieved yet another milestone as he recently met OpenAI CEO Sam Altman, and they are all set to collaborate on a futuristic project. The two are coming on board for Rahman's AI-powered musical metaverse Secret Mountain. What's Happening AR Rahman and OpenAI CEO Sam Altman are joining hands as they brainstorm over the singer's upcoming virtual global band project, where AI will blend seamlessly with music. AR Rahman met Sam Altman recently at the latter's office, where they discussed at length about the various ways by which Indian creators can be empowered. They also spoke about the many generational challenges that these creators have to combat and how they can be dealt with using AI. AR Rahman took to his social media to share the happy news of their collaboration, as he penned, "It was a pleasure meeting @sama at his office ...we discussed Secret Mountain, our virtual global band, and to empower and uplift Indian minds to use AI tools to address generational challenges and lead the way forward. EPI @chatgptindia @OpenAI, #arrimmersiveentertainment, @hashgraph." AR Rahman About The Secret Mountain Project AR Rahman had shared a video titled "Introducing the Secret Mountain" on YouTube last year. While the update did not reveal much, it did drop hints on an upcoming project that Rahman was working on. The audio in the video said, "Hey, I'm Luna, let me tell you a story. Like most of us, I have been wandering the jungle instead of gratification, dooms of scrolling." The video laid the groundwork for using an enhanced version of storytelling through innovation, against the backdrop of a mystical metaverse world. It is the tale of a young woman, Luna, who is transported to Secret Mountain, a different world where she meets many varied musical characters from diverse backgrounds. What makes them unique is their style. Rahman aims to bring singers and mentors from across the world to one cohesive platform. This would include countries like Ireland, China, Africa, and India. The message is simple - music transcends geographical boundaries. In A Nutshell AR Rahman is all set to team up with OpenAI CEO Sam Altman to build a metaverse where music meets AI. The aim is to build a virtual global band that brings singers and mentors to one platform, and to come up with unique ways of using AI to support Indian creators through technology.
