The Passive Component Manufacturing Scheme (PCMS) has been officially launched by the Government of India with an approved budget of ₹22,919 crore over a period of six years from FY26 to FY32. This scheme aims to significantly enhance India’s electronics manufacturing ecosystem by focusing on the production of passive components, which are essential for the functioning of a wide range of electronic products. It is a crucial step in boosting domestic value addition, fostering innovation, and reducing dependency on imports in key components.
The scheme aligns with India’s broader vision to emerge as a global leader in electronics manufacturing and semiconductor production. It builds upon the success of previous initiatives such as the Semiconductor Mission and the Production-Linked Incentive (PLI) program, which have already demonstrated remarkable growth, job creation, and export expansion in India’s electronics sector.
Reacting to the announcement of the Passive Component Manufacturing Scheme, Dr. Ajai Chowdhry, Founder HCL, Chairman EPIC Foundation expressed his pleasure and support for the initiative. He stated, I welcome the announcement of the passive component manufacturing scheme. With an approved outlay of 22,919 crore for a period of 6 years from FY26 to FY32, the scheme marks a significant milestone in India's growth trajectory of becoming a global hub for electronics manufacturing. The government has been on the right track from the beginning, having announced the semiconductor mission, which will be creating active components and semiconductor chips for the country.”
He further added, “Before that, the government had also announced a major PLI program for electronics manufacturing, which has resulted in phenomenal growth of the electronics industry and has also resulted in creating jobs and exports from India. Next, this is the most important scheme to be cleared by the government for increasing the value addition in the country. And this is something that I've waited for decades to see happening. This is very critical because step by step, the government has taken up every area that the industry was looking for. And this is a major step to take forward the electronics industry.”
“This initiative could be a pivotal moment for India's electronics and semiconductor industry, positioning the country as a significant player in the global market,” he concluded.
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