Synopsis
India has approved 29 electronics manufacturing proposals. This initiative involves an investment of over 71 billion rupees. The government aims to boost local production and reduce import reliance. Proposals cover mobile phones, telecom, and automotive sectors. This move is set to expand India's electronics manufacturing capacity significantly. The goal is to reach 500 billion dollars in production by fiscal 2031.India has launched a series of incentive programs to attract global and domestic investors, expand local manufacturing capacity, reduce import dependence and strengthen supply chains as it looks to improve its electronics manufacturing.
India's electronics manufacturing sector produced goods worth $125 billion in the year to March 2025. The government hopes to increase this to $500 billion by fiscal 2031.
The proposals cover mobile manufacturing, telecom, consumer electronics, automotive and hardware products, according to a statement from the ministry.
A unit of India's Dixon Technologies was given the nod for making display modules, while Lohum Cleantech secured the approval to manufacture rare-earth permanent magnets.
According to the statement, Lohum's project is India's first for manufacturing rare-earth permanent magnets from rare-earth oxide. Reuters reported this month that the Indian government is planning fresh incentives for local production of mobile phones with the flagship program for the burgeoning sector expiring in March, citing two sources. The move is expected to boost firms such as Apple and Samsung.
($1 = 94.5680 Indian rupees)
