The Andhra Pradesh government on Friday cleared Electronics Component Manufacturing Policy 4.0, lining up incentives to the tune of ₹4,600 crore to boost electronic component manufacturing in the southern state, with a focus on Sri City, Hindupur, Orvakal and Kopparthy.
The state plans to achieve an overall target of $100 billion in investments in the electronics ecosystem, a government source said.
As a special attraction, the policy is also providing an early bird incentive for the first ten projects, with a minimum committed investment of ₹250 crore over a period of five years. This includes a capital subsidy of up to 50 per cent of the investment, to be paid in two equal annual instalments.
Other incentives include offering land at a 75 per cent discounted price.
This comes four months after the Central government lined up the Electronics Components Manufacturing Scheme (ECMS) with sops of around ₹22,919 crore. According to reports, the Ministry of Electronics and Information Technology has so far received around 100 applications from Indian and international companies to set up units under the ECMS.