Amber Group's subsidiary, Ascent Circuits, has announced plans to invest ₹612.6 crore (approximately $73 million) in establishing a state-of-the-art printed circuit board (PCB) manufacturing facility in Hosur, Tamil Nadu. This investment, which received approval from the Indian Cabinet on October 8, marks a significant milestone in Amber Group’s expansion into PCB manufacturing. 

The facility, to be built in two phases, will have an annual production capacity of up to 840,000 square meters and will supply critical components for sectors such as automotive, industrial, telecom, defense, and aerospace. It will manufacture a wide range of PCBs, including single-sided, complex multilayer, and specialty circuits, utilizing advanced technologies.

The investment aligns with India's 'Make in India' and 'Atmanirbhar Bharat' initiatives, which aim to boost domestic manufacturing capabilities. The move is further supported by anti-dumping duties aimed at strengthening India's self-reliant PCB ecosystem. In addition to bolstering local production, the facility is expected to create over 1,200 direct and indirect jobs in the region.

Amber Group, known for its operations in consumer durables, electronics, and railway subsystems, reported a 96% year-on-year increase in standalone profit to ₹44.31 crore for the quarter ending June 2024, with revenue growing by 45% to ₹1,739.89 crore. This expansion follows Amber’s acquisition of a 60% stake in Ascent Circuits earlier this year, solidifying its presence in India’s growing electronics supply chain.

Recently, Ascent Circuits also achieved the prestigious AS9100D Aerospace Certification, further cementing its commitment to delivering high-quality and precise solutions to the aerospace industry.