The government has given the green light to 29 fresh applications under its electronics component manufacturing scheme to enhance domestic production and investment in the sector. S Krishnan, Secretary at the Ministry of Electronics and IT (MeitY), revealed that these new proposals involve a total investment of Rs 7,104 crore. This move is expected to create approximately 14,246 job opportunities, significantly boosting employment in the electronics manufacturing industry.
These approved projects are projected to result in the production of electronic components valued at Rs 84,515 crore, thereby solidifying India’s position in the global electronics supply chain. With this recent round of approvals, the total number of applications sanctioned under the scheme has now reached 75. Last year, India’s digital economy, which previously accounted for about 6-7 per cent of the GDP before 2010 and had doubled by 2014, is now expanding at double the pace of the overall economy.
During the Nagaland Digital Entrepreneurship and Startup Fest in December last year, Krishnan emphasized the abundant talent among Naga youth, particularly their creativity and English proficiency. He also highlighted the pivotal role of institutions like the National Institute of Electronics & Information Technology (NIELIT) in nurturing this potential. Notably, out of the 55 NIELIT centers in India, 20 are situated in the Northeast region.
Krishnan underscored that the digital economy is growing at twice the rate of the overall economy. He also emphasized the importance of cybersecurity, stating that India should not rely on foreign technologies in this crucial domain. Krishnan praised the Cyber Security Lab at NIELIT Kohima as cutting-edge and one of the finest in the country, playing a significant role in cyber policing.
