India, Oct. 27 -- The government has cleared seven projects worth Rs 5,532 crore under the Electronics Components Manufacturing Scheme, Union Minister for Electronics and IT Ashwini Vaishnaw announced on Monday.
Out of 249 proposals received, these selected projects are expected to significantly boost domestic production and help cut India's electronics import bill by nearly ?20,000 crore.
"Seven plants under the electronics components category have been approved. More projects will follow soon, and we expect these to reduce the import bill by around Rs 20,000 crore," Vaishnaw said.
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