TN CM launches special scheme on electronics components; targets Rs 30,000 cr investments

Chennai: Aiming to garner investments to the tune of Rs 30,000 crore and create 60,000 jobs in the State, Tamil Nadu Chief Minister M K Stalin launched the 'Tamil Nadu Electronics Components Manufacturing Scheme' here on Wednesday. The special initiative by the state government would support the production of electronic components in the State. Tamil Nadu had earlier rolled out the 'Semiconductor and Advanced electronics Policy 2024' to further encourage value-added manufacturing and attract large scale investments in semiconductor sub-sectors. This policy has paved the way for Tamil Nadu to emerge as a front runner in the production of electronic goods. "In continuation of these efforts to strengthen the electronics manufacturing ecosystem, the Chief Minister has now launched this special scheme focused on electronic component manufacturing," an official release said on Wednesday.

The 'Tamil Nadu Electronics Components Manufacturing Scheme' would offer incentives to attract companies that benefit under the Electronics Component Manufacturing Scheme of the Union Ministry of Electronics and Information Technology, it said. Through this scheme, the government would offer incentives that match the subsidies announced under the Centre's scheme. Tamil Nadu secured the top position among Indian states in electronics exports, achieving a record USD 14.65 billion in the 2024-25 financial year, becoming the first state to reach this milestone.