ICEA, IT Ministry urge states to make India a component manufacturing hub
Various states such as Tamil Nadu, Assam, Uttar Pradesh and Andhra Pradesh are coming up with their own policy for encouraging components manufacturing in their respective states.
In an industry event in Andhra Pradesh, Sushil Pal, Joint Secretary, MeitY, emphasised the government's commitment to fostering domestic electronics manufacturing through a hybrid scheme which offers Capex support and turnover linked incentive for components manufacturing.
He appealed that states have to play a proactive role in this mission of making India a component manufacturing powerhouse for the world.
Bhaskar Katamneni, Secretary, IT & EC, state government, unveiled the draft Electronics Component Manufacturing Policy (ECMP) at the event to encourage manufacturing of electronics components in the state.
'We are not only promoting ease of doing business but also enabling the 'Speed of Doing Business'. Andhra Pradesh is crafting a more competitive and agile policy framework compared to the national landscape,' said Katamneni.
He said that the Andhra Pradesh-ECMP will be notified in the next 10 days.
Additionally, he also discussed on the draft policy and its offerings, like catalysing investments across the component manufacturing value chain through 50 per cent capex support for components manufacturers in the state, turnover linked incentives doubling the centre's incentives, building specialised infrastructure and plug-and-play clusters, and enabling talent development, skilling and R&D support.
Pankaj Mohindroo, Chairman, ICEA said that now is the time that industry should proactively resolve for high domestic value addition in the country and build a robust supply chain for electronics manufacturing.
The event was attended by senior government officials from Ministry of electronics and IT and the state, along with manufacturers, industry leaders and other stakeholders of electronics ecosystem.
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