📊Executive Summary

The Indian government has announced a new Electronics Component Manufacturing Scheme (ECMS) aimed at boosting local production of electronic components, including smartphone displays, battery cells, and camera modules. The scheme, with an outlay of ₹22,919 crore (approximately $2.7 billion), offers incentives of up to 10% of turnover and 25% of capital expenditure for manufacturers. Applications will open on May 1, 2025, and are expected to enhance domestic value addition, potentially lowering gadget prices in India. The initiative also aims to create over 90,000 jobs in six years, reflecting a significant push towards localizing electronics manufacturing and reducing reliance on imports....