The production of electronics components from the approved projects is likely to reduce the import bill of around `20,000 crore

PTI New Delhi

The government has approved seven projects worth Rs 5,532 crore, out of 249 proposals received under the Electronics Components Manufacturing Scheme, Union Electronics and IT Minister Ashwini Vaishnaw said on Monday. The minister said the production of electronics components from the approved projects is likely to reduce the import bill of around Rs 20,000 crore. 

"Seven plants under electronics components have been approved. In the coming days, many more projects will be approved. We expect these projects to reduce the import bill by around Rs 20,000 crore," Vaishnaw said. The minister said that proposals for the manufacturing of multi-layer printed circuit boards or motherboard base, camera modules, copper laminates, and polypropylene films (used in capacitors for consumer electronics) have been approved.

Approvals have been granted for four projects from the Kaynes Group, and one project each from Syrma Group, Ascent Circuits of Amber Group, and SRF Limited.  Kaynes' four projects at an investment of Rs 3,280 crore comprise the production of multi-layer PCBs worth Rs 4,300 crore, camera module sub-assembly worth Rs 12,630 crore and HDI (High-Density Interconnect) PCBs worth Rs 6,875 crore.