Stocks Of Electronics Manufacturers Rise Up To 2% As Govt Clears 31 Projects Worth ₹7,877 Crore Under Component Scheme
Shares of electronics manufacturing companies gained on August 18 after the government approved 31 fresh projects worth Rs 7,877 crore under the Electronics Component Manufacturing Scheme (ECMS). The latest approvals take the total number of sanctioned projects to 106 across five tranches, with cumulative investments crossing Rs 69,000 crore. The announcement boosted investor interest in the…
On August 18, stocks of electronics manufacturing companies surged by up to 2% following the government's approval of 31 new projects worth Rs 7,877 crore under the Electronics Component Manufacturing Scheme (ECMS). This brings the total number of sanctioned projects to 106 across five tranches, with cumulative investments surpassing Rs 69,000 crore, exceeding the initial target of Rs 59,000 crore.
The approvals cover a wide range of products, including camera and display modules, connectors, and rare earth permanent magnets, with the aim of boosting domestic value addition, reducing reliance on imported components, and creating approximately 10,000 jobs. Notable companies receiving approvals include Jyoti CNC Automation, VVDN Technologies, and Mitsubishi Electric India.
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