Speaking to the electronics component sector, Vaishnaw emphasized the necessity for companies to develop and fortify design teams in India while aiming to minimize reliance on imports through increased local sourcing. He also stressed the importance of meeting Six Sigma quality standards to maintain global competitiveness.
In a pointed communication to the industry, the minister indicated that progress on these objectives would be meticulously monitored, adding that companies should brace for daily review calls from his office to ensure that timelines and obligations are fulfilled.
Vaishnaw mentioned that the government has so far approved 46 projects under the Electronics Component PLI scheme, which are anticipated to generate investments exceeding ₹54,500 crore and create approximately 51,000 jobs.
This initiative coincides with the rapid expansion of India’s electronics manufacturing landscape. Currently, the electronics sector employs about 25 lakh individuals, with mobile manufacturing alone contributing nearly 14-15 lakh jobs, as highlighted by the minister.
Read Also: India approves 22 projects under Electronics Component PLI scheme
The recent statements come on the heels of new approvals under the Electronics Component PLI scheme, including a third tranche of 22 projects worth ₹41,863 crore. These approvals aim to establish domestic value chains for components like camera modules, display modules, printed circuit boards, and optical transceivers, while simultaneously enhancing export competitiveness.
Vaishnaw also identified 2026 as a crucial turning point for India’s semiconductor goals, noting that four semiconductor facilities — Kaynes, Tata Group’s unit in Assam, Micron, and CG Power — are slated to commence commercial production next year, marking a pivotal achievement in India’s journey towards a homegrown chip manufacturing ecosystem.
Industry leaders have previously indicated that while capacity expansion under the PLI schemes has gained traction, the forthcoming phase of growth will hinge on increased value addition, enhanced design capabilities, and a sturdy component ecosystem — priorities that the minister reiterated in his address to the industry.
