AP Aims To Achieve Electronics Production Of $50 Bn By 2029

Amaravati: The TDP-led NDA Coalition in Andhra Pradesh has issued detailed guidelines as part of the AP Electronics Manufacturing Policy (4.0) 2024-29, to make the State achieve electronics production of $50 billion (equivalent to Rs4.2 lakh crore) by the end of the policy period.

The guidelines were issued recently through a GO to attract investments worth $10 billion (Rs84,000 crore). It aims to create five lakh first-time jobs in the electronics manufacturing sector during the policy period as per the promise made at the time of 2024 general elections to generate two million jobs in various sectors by 2029.

This comprehensive framework outlined the procedures, roles, and responsibilities to ensure the successful execution of the policy’s objectives. The GO continues details on the slew of incentives being offered on a platter to those qualify to avail of them.

The GO said after careful consideration, approval has been accorded to the operating guidelines for AP Electronics Manufacturing Policy (4.0) 2024-29.

IT, Electronics and Education Minister Nara Lokesh said on X that Lokesh XL "We're transforming Andhra Pradesh into an #ElectronicsHub of the Country, one milestone at a time." He said after laying the foundation stone for LG's Rs5,001-crore facility at Sri City near Tirupati recently that AP is marching ahead to turn into a powerhouse for electronic manufacturing.

The GO says AP Economic Development Board (APEDB) has been mandated to function as the nodal agency for implementing EMP 4.0. It says micro industry/enterprise means an Industry/enterprise in which investment and turnover are as defined by the Government of India from time to time. Small industry/enterprise means an industry/enterprise in which investment and turnover are as defined by the Government of India from time to time.

Medium industry/enterprise means an industry/enterprise in which investment and turnover are as defined by the Government of India from time to time. Sub large, large industry/eEnterprise means an industry/enterprise where fixed capital investment (including land, building, plant, machinery & equipment) falls within a band notified in policies notified by the State Government.

Industry type. EMP 4.0 sub-large has to be greater than Rs.50 crore and less than or equal to Rs200 crore large.

As per the operating guidelines, the mega, ultra mega industry/enterprise needs to be an industry/enterprise where fixed capital investment (including land, building, plant, machinery & equipment) falls within a band notified in policies/amendment to policies notified by the State Government. It has to be greater than Rs1,000 crore and less than or equal to Rs5,000 crore.

The order said the government shall extend tailor-made benefits to mega and above industry/enterprise and and other strategic investments to suit particular investment requirements on a case-to-case basis based on the gestation period, pioneering nature, locational aspects, technology, project’s importance to the State’s industrial growth and its ability to generate large scale employment for people, overall economic impact, or revenues for the state.