Govt clears ₹7,877 crore ECMS investments; Wipro, PCBL Chemical, Syrma SGS shares in focus
With the latest approvals, announced on Monday, August 17, total investments approved under the ECMS have reached ₹69,548 crore, exceeding the scheme’s initial investment target of ₹59,350 crore. Expected production from the approved investments has reached ₹5.34 lakh crore, compared with the original target of ₹4.56 lakh crore.
Electronics and Information Technology Minister Ashwini Vaishnaw said 106 companies have now been approved under the scheme, of which 38 projects have started production, and 16 are under construction.
The approved projects are expected to create around 75,000 direct jobs and more than 2.5 lakh indirect jobs, Vaishnaw said. The window for submitting fresh applications under the ECMS remains open.
Key investment approvals
Among the latest approvals, Wipro Global Engineering has received approval for an investment of ₹1,401 crore, while Micromax Precision Moulding has been approved for ₹565 crore.
PCBL Chemical, part of the RP Sanjiv Goenka Group, has received approval for an investment of ₹329 crore, while Minda Instrument has been approved for ₹270 crore.
VVDN Technologies has received approval for an investment of ₹100 crore, while Mitsubishi Electric has been approved for ₹99 crore.
Centum Electronics has received two approvals, involving investments of ₹52 crore and ₹54 crore, while Syrma SGS has received approval for ₹60 crore.
Following these investment approvals, shares of Wipro, PCBL Chemical, Centum Electronics and Syrma SGS will be in focus on Tuesday, August 18.
Shares of Wipro, PCBL Chemical, Centum Electronics and Syrma SGS will be in focus on Tuesday, August 18, following the latest investment approvals.
Vaishnaw flags gaps in local capabilities
While the scheme has surpassed its investment targets, Vaishnaw said the industry needs to do more to build domestic capabilities.The minister said he was “not satisfied” with the industry’s response on local design capabilities and called for more work to build a “swadeshi supply chain”.
Vaishnaw also stressed the need for higher manufacturing standards, saying “Six Sigma manufacturing is an absolute must”. He added that Prime Minister Narendra Modi has also emphasised the need for quality.
On talent development, Vaishnaw said significant efforts had already been made but that “we have to make 10 times the effort”, as finding the right talent is becoming a challenge.
ECMS gets bigger budget allocation
The latest approvals come after the government raised its financial commitment to the ECMS in the Union Budget 2026-27.
On February 1, Finance Minister Nirmala Sitharaman proposed increasing the scheme’s outlay to ₹40,000 crore from the earlier ₹22,919 crore, citing investment commitments that had already exceeded the scheme’s targets.
The Union Cabinet approved the ECMS in March 2025 as part of the government’s efforts to build a self-reliant electronics supply chain in India and attract domestic and global investments into the sector.
The scheme provides incentives to manufacturers of sub-assemblies, components and capital equipment to help build manufacturing capabilities and achieve economies of scale.
It is aimed at increasing domestic value addition, integrating Indian companies with global value chains and supporting production and employment. The scheme had targeted investments of more than ₹59,000 crore, with the potential to support production worth over ₹4.5 lakh crore and create nearly 92,000 direct jobs.
