The Electronics components sector has been one of the most import heavy sectors for the country. India imports a significant chunk of its electronic requirements.
As per industry estimates about 95 percent of India’s electronic components requirements and 60 percent of domestic demand for electronic products is being met through imports.
Keeping this in mind the government of Andhra Pradesh has decided to give in-principle approval for development of Electronic Manufacturing Cluster in the name of YSR EMC at Kopparthy, YSR Kadapa District in line with EMC-2.0 Scheme notified by Ministry of Electronics and Information Technology (MeitY), Government of India.
YSR EMC will be developed and operated by APIIC
As per an official GO the total estimated cost of the project is said to be around Rs.730.50 Crore. The proposed EMC is expected to bring in an investment of Rs.10,000 Crore and generate employment approximately to the tune of 1,00,000 people.
The entire land which is under the possession of APIIC and the YSR EMC will be developed and operated by Andhra Pradesh Industrial Infrastructure Corporation Limited (APIIC) said the GO issued by Mr. R Karikal Valaven, special chief secretary to government.
The government is looking at granting a slew of fiscal incentives such as land Allotment wherein APIIC will provide land and Ready Built Factory units. Similarly other fiscal incentives such as reimbursement of stamp duty, power cost, investment subsidy will also be available.
APIIC to provide land and Ready Built Factory units
This if implemented shall catalyse the economic growth of the region by attracting investments in the ESDM sector verticals like Automotive electronics, Industrial electronics, Consumer electronics, Medical electronics, Computer Hardware, Telecom Networking & Communications, E-mobility products/components etc.The state will now have to attract Global Anchor and other Electronic Industries into the cluster and to create a Comprehensive Supply Chain/Ecosystem for strengthening Electronics Manufacturing base in Kopparthy, YSR Kadapa District.