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Andhra Pradesh will allocate 20 per cent of order value in Government-promoted projects in electronic hardware to the small and medium enterprises.
According to the the AP Electronic Hardware Policy 2012-2017 released at the inaugural session of IT summit Advantage AP 2012 held here on Thursday, many incentives would be offered to both start-ups and existing units.
The start-ups and micro enterprises will be extended a 10 per cent subsidy on capital equipment for technology upgradation besides 25 per cent subsidy on lease rentals of up to Rs 5 lakh a year for three years.
In tier II locations including Visakhapatnam, Vijayawada, Warangal, Tirupati and units located close to seaports, 100 per cent reimbursement of stamp duty, transfer duty and registration fee paid on sale/lease deeds on the first transaction would be offered.
In addition to extension of industrial power category tariff, a power subsidy of 50 per cent to micro, 40 per cent to small, 25 per cent to medium and 10 per cent to large scale industry units is offered on power bills for a period of five years from the date of commencement of operations.
Special package
A special negotiated package of incentives would be offered for priority projects in the electronic system design and manufacturing sector. Priority projects were defined as those promoted by electronic hardware companies having a present employment of over 100, existing investment of more than Rs 10 crore and a turnover of over Rs 20 crore for the last three years.
A nodal wing within the IT&C Department in line with the Single Window Act 2002 will be created to act as a single-window to deal with customs/excise and other State and central government agencies.
The operational guidelines/applications procedures along with eligibility criteria for incentives and subsidies as per the new policy will be notified separately.
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