MSMEs constitute 80% of applications for govt's electronic component manufacturing scheme

Micro, Small, and Medium Enterprises (MSMEs) in India have shown significant interest in the government's scheme aimed at boosting electronic component manufacturing within the country. Notably, MSMEs have submitted a remarkable 80% of the total applications received under this scheme. This overwhelming participation from small businesses underscores the strong enthusiasm and potential within the MSME sector to capitalize on the incentives and support being offered by the government to promote local production of electronic components. The scheme is designed to reduce reliance on imports and strengthen India's capabilities in the electronics manufacturing value chain.