Next ECMS tranche likely in August, to target rare earths, components

Short summary

India's government will announce the next Electronic Component Manufacturing Scheme beneficiaries in August, targeting rare earths and upstream supply-chain components. Existing passive component and flexible PCB investments will expand, with design-capable firms likely preferred. This reflects a policy push for domestic semiconductor independence.

• •ECMS tranche 2 announcement expected August 2026
• •Focus: rare earths, components, capital equipment, design capabilities
• •Signals India's push for semiconductor supply chain autonomy

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