India approves six firms with ₹5,532 crore investment under Electronics Component Scheme

The Indian government on Monday (October 27) has approved six companies under the Electronics Component Manufacturing Scheme (ECMS), with a total proposed investment of ₹5,532 crore and a combined production target of ₹44,406 crore.

The approved companies include Kaynes Circuits, a subsidiary of Kaynes Technology; Syrma Strategic Electronics, a subsidiary of Syrma SGS; SRF Ltd and Ascent Circuits.

Union I&B Minister Ashwini Vaishnaw said the approvals are expected to help save an import bill of ₹20,000 crore. The approved entities will…