Electronics Components Policy approved by AP Cabinet-Aim is to attract investments of $50 to 100 billion
AP Cabinet approves Electronics Components Manufacturing Policy 4.0 aiming to attract $50–100 billion investments by 2030, boost domestic production, reduce imports, and create jobs.
Electronics Components Policy approved by AP Cabinet-Aim is to attract investments of $50 to 100 billion
Andhra Pradesh Cabinet on Thursday approved the New Electronics Components Manufacturing Policy 4.0 and the investment proposals worth Rs.20,000 crore cleared by the State Investment Promotion Board (SIPB).
The new electronics component policy aims to attract investments in the electronics sector between 2025-30. As India imported electronic circuit boards worth $70 billion. Naidu underlined the need to develop electronics component manufacturing units in Sri City, Kopparthy, Tirupati and other areas for import-substitute components to save forex. The Chief Minister wanted action plans to be prepared to attract investments worth $50-100 billion in the electronics components manufacturing sector.
Four investment proposals with a potential for employment opportunities for 50,000 in Visakhapatnam including AP's first GCC by ANSR Global by the SIPB on Wednesday, were given the stamp of approval by the Cabinet, which met under the chairmanship of Chief Minister N. Chandrababu Naidu at the Velagapudi Secretariat.
The Cabinet cleared SIPB decision for allotment of Sify Technologies 3.5 acres in Madhurawada and 50 acres at Paradesipalem, Sattva Developers Pvt Ltd 30 acres at Madhurawada, ANSR Global 7.99 acres and BVM Energy & Residency Pvt Ltd 30 acres for their investment proposals in Visakhapatnam amounting to Rs.20,000 crore. The Adani Group's decision to withdraw from the pumped storage project due to certain objections in North Andhra was given approval. VMRDA was permitted to acquire about 2,000 acres for allotment to new investments.
The Cabinet discussed land allotments proposed by Capital Region Development Authority (CRDA) at Amaravati and deliberated on the need to expedite construction of GAD towers and other mega projects so as to complete the first phase of the capital city in 2028.
The Chief Minister's mission to attract investments in Singapore on July 26 along with a high-power team also figured in the discussion. The performance of the Ministers was reviewed. The liquor scam was also discussed and Naidu advised the Ministers to rebuff the Opposition campaign and tell the people the facts on the involvement of the YSRCP top leadership in the scam.
A decision was taken to form a separate department for science and technology in view of the Amaravati Green Hydrogen Declaration and the plans to develop Amaravati as a green hydrogen hub. Nala Act amendment was also discussed and a decision was taken to allow conversion of certain agricultural lands into non-agriculture lands on a case to case basis. I&PR Minister Kolusu Parthasarathi during a media briefing later said permission will be granted for regularisation of constructions in unauthorised layouts on a case to case basis.
He said the enquiry committee report on Tirupati stampede was accepted and criminal prosecution will be initiated against those found responsible for the tragedy.
