VIJAYAWADA: The State Cabinet on Tuesday approved the Andhra Pradesh Electronics Policy 2021-24, aimed at creating a world-class electronics manufacturing infrastructure and improving the Ease of Doing Business (EoDB) status through various reforms. It offers a host of incentives for reducing the cost of doing business in the state.
In a release, Principal Secretary (Information Technology, Electronics and Communications) G Jaya Lakshmi said that the policy is envisioned to transform Andhra Pradesh into a global hub for electronics manufacturing, by focusing on the entire manufacturing value chain-assembly operations, electronics components manufacturing, Research and Development (R&D), semiconductors and display fabrication.
Stating that the electronics manufacturing industry is among the fastest-growing sectors domestically, with the market size expected to reach $400 billion from the present $104 billion by 2025, she asserted that the new Policy envisages tapping a majority of new investments in the sector flowing to India and other Southeast Asian countries and thereby developing the state into an electronics manufacturing hub.
The salient features of the policy framework include the promotion of world-class greenfield Electronics Manufacturing Cluster (EMC) being developed in Kopparthy of Kadapa district. The state expects to benefit from the firstof- its-kind incentive scheme at the State level and envisions creating at least 39,000 direct jobs in the electronics manufacturing sector. A majority of those jobs are expected to be for women.
11 tourism projects for Vizag
Cabinet cleared 11 big ticket projects to make Vizag a perfect tourist destination. The stretch between Kailasagiri Hills and Bhogapuram will be developed. The projects will be done with government funds and under PPP mode