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Andhra unveils ₹4,600 cr policy to boost electronic component manufacturing
As a special incentive, the policy includes an early bird incentive for the first ten projects, requiring a minimum committed investment of Rs 250 crore over five years. This includes a capital subsidy of up to 50 per cent of the investment, paid in two equal annual instalments. Additional incentives include land offered at a 75 per cent discounted price.
This policy follows the launch of the Central government's Electronics Components Manufacturing Scheme (ECMS) four months ago, which offers incentives of around Rs 22,919 crore. The Ministry of Electronics and Information Technology has reportedly received around 100 applications from Indian and international companies to set up units under the ECMS.
Additionally, the Andhra Pradesh government will provide a 100 per cent subsidy matching the amount approved and released by the Central government under the ECMS. This subsidy will be disbursed within six months of the Centre releasing the corresponding incentive under ECMS, in the applicable proportion. However, firms receiving the early bird incentive are not eligible for this subsidy.
'The move is expected to benefit companies like Syrma SGS and Daikin Industries, which have already committed significant investments in the state,' said a government source. 'A key beneficiary will be Syrma SGS, which is applying for incentives to set up India's largest PCB plant and copper-clad laminate factory with an investment of Rs 1,800 crore. This project will be established in partnership with South Korean firm Shinhyup Electronics, which will bring technological expertise to the venture,' he added.
Other incentives include a 100 per cent exemption on electricity duty for six years from the notification of the policy, along with reimbursement of power costs, SGST, and stamp duty. Recruitment assistance will also be provided, as per the Andhra Pradesh Electronics Policy 4.0. The state is looking to attract investors at a time when India's electronics production has reportedly doubled over the last six years to $115 billion, driven by global majors like Apple and Samsung.
Since Nara Chandrababu Naidu took charge in 2024, Andhra Pradesh has attracted a series of electronics sector investments, including LG Electronics India's Rs 5,000 crore unit, Daikin Industries' Rs 2,475 crore additional investment, Carrier Global's Rs 1,000 crore unit, Wingtech Mobile Communications' Rs 1,061 crore investment, and Sensorem Photonics India's Rs 9,246 crore expansion plans. According to sources, a major factor behind this investor interest is the attractive policy framework for the electronics segment, semiconductors, and display fabs, among others.
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