Overseas Road Shows to Encourage in IT Industry
Published By : 03 Apr 2015 | Published By : QYRESEARCH
Some roads shows are planned to showcase the ‘Sunrise State’ and woo the investors in the United States, Taiwan, Japan, Korea, Germany, and China. The road shows will highlight the potential for collaborations and investments. These aspects will also be highlighted from single window clearance and incentives that will be introduced by the government.
As a part of the electronics policy, 20 Electronic Manufacturing Clusters (EMCs) are planned for a set up by the government. These clusters will be put up across the State and various electronic bazaars of South India such as Vijayawada, Visakhapatnam, and Tirupati.
The IT Investment Region in Visakhapatnam is recognized to be the State’s largest city with two EMCs. The policy promotes as a mega electronic hub.
Besides EMC, Kakinada is planned to get an Electronic Hardware Park that has an approval by the Central government. Electronic Hardware Park is an autonomous society that will witness promotion of electronics and IT.
A research and development of SAMEER is an upcoming project in South India. It is an autonomous body which is under Ministry of IT and Communications. The project is an investment of Rs. 80 crore. An aero city plan is proposed in Vizianagaram creating high demand for electronic components. The units planned for a set up at EMC would receive a subsidy of 50 percent. The government will facilitate project proposals for the single window clearances and the entrepreneurs. It will also be eligible for 25 percent Capex subsidy.
The Executive Director of APIIC said the electronic industry is becoming an important growth engine. The industry is estimated to attract an investment of Rs. 30,000 crore with a total employment to 0.4 million in AP in the next five years. At present the industry is a low manufacturing base with huge demand-supply gap. It has the potential to grow and explore by 2020.