Vijayawada: FAPCCI hails new Electronics Policy

Vijayawada: Welcoming the Andhra Pradesh Cabinet's approval to AP Electronic Policy 2021-24, CV Atchut Rao, president of the Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) said in a statement here on Wednesday that the policy aims at creating world-class electronics manufacturing infrastructure and improving the ease of doing business (EoDB) status through various reforms. It offers a host of incentives for reducing the cost of doing business in the State, he said.

The FAPCCI president said that the electronics manufacturing industry has been eagerly awaiting the initiatives to boost their production and also to integrate in the global value chain and envisages for tapping new investments in the sector into Andhra Pradesh thereby develop the State into electronic manufacturing hub.

The salient feature of the policy is for promotion of green field electronic manufacturing cluster by introducing the production-linked incentive scheme and AP is the first to introduce such scheme.

He also welcomed the decision of the government to develop the cluster in Kadapa district which will help to have ample opportunity for economic and industrial development of the district. He hoped that the production linked incentive offered to the electronic industries in the State will boost more investments and is a big enabler for the development of the component ecosystem.

The FAPCCI said that it would result in large-scale manufacturing happening in the State, translating into progressive increase in value addition and will also boost the growth of ancillary units in the Sector.

The policy leads to higher employment generation and most of those jobs are expected to be women workforce. He also lauded the policy which will also aid in empowerment of women though financial independence.

"The FAPCCI is confident that the State and Central government's policies and incentive schemes will not only enable India to become the electronics manufacturing hub of the world but also provide a fillip to its 'Make in India' programme. All of these steps are going to provide a much-needed boost to the sector especially in Andhra Pradesh and help home-grown companies to expand their business capabilities further."