The Andhra Pradesh cabinet has approved the state’s new electronic policy which facilitates the creation of world-class electronics manufacturing infrastructure, better ‘Ease of Doing Business’ besides offering a host of incentives to business and industrial houses in the state.
The government is aiming at converting the state into a global electronics manufacturing hub by 2024. The new electronics policy 2021-24 also aims at getting a whopping market size of $400 billion from the present $104 billion. It envisages tapping a majority of new investments in the sector flowing to India and Southeast Asian countries, into Andhra Pradesh, and developing the state into a mature electronics manufacturing ecosystem.
The government also plans the promotion of a world-class greenfield electronics manufacturing cluster being developed at Kopparthy in the Kadapa district. The introduction of a production-linked incentive scheme in the green field clusters extends incentives for the electronics manufacturers in the state. The government is also aiming at creating over 39,000 direct jobs in the electronics manufacturing sector with a major employment share going in favor of women.
The policy framework is a major milestone for the state to become a preferred investment destination for the electronics manufacturing industry and is a testament to the investor friendliness of the government led by chief minister Y S Jagan Mohan Reddy, said principal secretary to the government G Jayalakshmi.
“The department is confident that the release of the Andhra Pradesh Electronics Policy 2021-24 will expedite the grounding of investments and provide employment opportunities to citizens of the state,” the senior IAS officer said.