Chief minister MK stalin of the southern indian state of tamil Nadu released the 'Tamil Nadu Electronics Components Manufacturing Scheme,' a unique initiative committed to supporting the production of electronics components inside the kingdom.
In step with the tamil Nadu authorities, this scheme seems to attract companies through imparting incentives that are healthy for the subsidies announced beneath the indian authorities' Electronics Component Manufacturing Scheme. Via this initiative, tamil Nadu is expected to draw investments worth $3.52 billion, or Rs. 30,000 crore, and generate employment opportunities for 60,000 individuals.
The Electronics Components Production Scheme follows the tamil Nadu Semiconductor and Superior Electronics Policy 2024, which has paved the way for the kingdom to emerge as a frontrunner in the production of electronic items.
Tamil Nadu is the second-biggest economy in india and a main nation in manufacturing and exports. Inside the financial record for the year 2024-25, tamil Nadu has topped india with an increase rate of 9.69%. That is the very best increase accomplished by tamil Nadu inside the final decade. The tamil Nadu government is taking various initiatives to develop the state economic system to $1 trillion by 2030 and to draw the vital investments.
Within the 12 months of 2024-25, tamil Nadu hit an all-time high of $14.65 billion in electronics exports; this amounts to 41.23% of India's electronics exports. In the year 2023-24, tamil Nadu's electronics exports stood at $9.56 billion and have risen 53% to reach the existing $14.65 billion. With $7.85 billion in electronics exports, karnataka stands second in the listing of India's top electronics exporting states, while Uttar Pradesh stands 0.33 with $5.26 billion.
Lately, the tamil Nadu government introduced that it will be putting in place a committed production space to cater to Taiwanese companies. Dubbed the Taiwanese business Park, the ability is to be situated close to the capital town of Chennai. "Taiwanese investments constitute a substantial share of the FDI into the kingdom, mainly in sectors like electronics and footwear. The Taiwanese commercial park will aim to draw investments of Rs.10,000cr ($1.17bn) from Taiwanese companies in sectors consisting of wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital components, technical textiles, and footwear components, growing employment ability for 20,000 jobs," stated the Industries, Investment Advertising, and Trade Dept. of the tamil Nadu government.
Of the more than 250 Taiwanese firms invested in india, more than 60 percent are based totally in the southern part of the USA, and most of these companies are based in tamil Nadu, in keeping with the records from the Taiwanese government. Among those firms are leading agreement manufacturers of mobile phones and wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital gadgets, among others.
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