India nets $13 billion proposals under electronics component scheme: Vaishnaw

The government has received $13-billion (Rs 1.15 lakh crore) investment proposals under the Electronics Component Manufacturing Scheme (ECMS) – nearly double its target – boosting the country’s push to build a supply chain that can rival the likes of China.

The response “far exceeded expectations and gives confidence that we are moving towards a more self-reliant and globally competitive ecosystem,” electronics and IT minister Ashwini Vaishnaw told reporters here on Thursday.

“India has the potential to become a global hub for electronics…