The Union Cabinet, led by Prime Minister Narendra Modi, approved a Rs 22,919 crore Production-Linked Incentive (PLI) scheme to boost the domestic manufacturing of electronics components. The scheme aims to attract large investments, enhance domestic value addition, and integrate Indian companies into global supply chains. It is expected to attract Rs 59,350 crore in investment, generate Rs 4,56,500 crore in production, and create 91,600 direct jobs along with additional indirect employment.