NewsVoir
New Delhi [India], August 19: Minda Instruments Limited, a wholly owned subsidiary of Minda Corporation and part of the Spark Minda Group, has received government approval to manufacture Display Module Sub-Assemblies, a component the country has largely imported until now. The clearance came under the Electronics Components Manufacturing Scheme (ECMS), part of a batch of 31 new proposals the Ministry of Electronics and Information Technology approved on August 17, taking the scheme's total to 106 projects. TXB Optics received the same approval in the same round, for the same component.
The company will set up a greenfield facility for TFT display module assembly as part of its backward integration strategy. Minda Instruments currently supplies instrument clusters and automotive electronics to major original equipment manufacturers (OEMs); the new facility will allow it to manufacture the display component in-house rather than import it.
"This approval reflects the confidence the Government of India has placed in our engineering capabilities," said Aakash Minda, Executive Director, Minda Corporation Ltd. "A display is the point where a driver meets the vehicle. Bringing its manufacture to India is a natural continuation of the work we have built over the past decade. Import substitution is one part of this story, but the larger purpose is building the depth and precision India needs to design and manufacture the electronics that will define mobility going forward. We see this as an early step in that direction, and one we are committed to leading."
India has bought its dashboard displays from abroad for years. Minda is putting an end to that. A domestic plant means shorter supply lines, and less exposure the next time a chip shortage or a shipping crisis rattles the industry, as both have in recent years.
The facility will also cater to external customers, giving the company access to supply contracts across the broader automotive electronics market. The August 17 tranche of approvals carries a projected investment of Rs 7,877 crore and is expected to generate 9,588 direct jobs. Cumulative investment approved under ECMS since its launch stands at Rs 69,548 crore across 15 states.
For Minda Corporation, this builds on years of work inside India's automotive electronics ecosystem, and it puts the company among the country's leading players in the space.
About Minda Corporation (BSE: 538962; NSE: MINDACORP)
Founded in 1958 by the late Shri Shadi Lal Minda, Spark Minda is one of India's leading automotive component manufacturers, serving major OEMs and Tier-1 suppliers across passenger vehicles, commercial vehicles, two-wheelers, off-road vehicles and the aftermarket. With over six decades of engineering excellence, the Group has evolved into a global mobility technology company focused on delivering intelligent, connected and sustainable automotive solutions.
Spark Minda operates across 42 manufacturing plants and offices in six countries, including India, Indonesia, Vietnam, Japan, Uzbekistan and Poland, and has a workforce of over 23,000 professionals. The Group has a strong R&D ecosystem comprising 1,000+ engineers, two Advanced Spark Minda Technical Centres in Pune and Bengaluru, nine engineering centres across India, and 11 global technology partnerships.
Its comprehensive portfolio includes vehicle access systems, smart electronics, advanced automotive sensors, instrument clusters, telematics, wiring harnesses, die-casting solutions, interior plastics, electric vehicle mobility solutions, starter motors and alternators, among others. Spark Minda continues to invest in advanced engineering, digital technologies and strategic collaborations, with a focus on electronics, mechatronics, software-defined vehicles, connected mobility, EV technologies and intelligent safety systems. The Group is also committed to ESG and community development through the Spark Minda Foundation.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same)
Government Clears Minda Instruments to Manufacture Display Modules Under ECMS
