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AP IT policy targets to attract $ 2 bn investment
AP IT Policy Targets to Attract $ 2 bn Investment. AP Government on Monday announced \"AP Information Technology Policy – 2014-2020,\" targeting $ 2 billion investment in IT and 5 billion in electronic manufacturing.
Hyderabad: AP Government on Monday announced "AP Information Technology Policy – 2014-2020," targeting $ 2 billion investment in IT and 5 billion in electronic manufacturing.
The policy envisages to develop Visakhapatnam as Mega IT hub and Vijayawada, Kakinada, Tirupati and Anantapur would be promoted as IT hubs. To promote the IT industry, 100 per cent stamp duty, transfer duty and registration fee would be reimbursed to the investors on the first transaction and 50 per cent thereof on the second transaction.
An empowered 'Consultative Committee for the IT Industry' would be formed with the representatives of industry and the other stakeholders. The CCITI would administer the incentives in a speedy, time-bound and transparent manner.
The order said a highly empowered single window clearance unit would be created and operationalised for granting approvals and clearances for setting up new IT units and for expansion of the existing units in the state.
All IT Industrial areas, IT lay outs including Electronic Manufacturing Clusters (EMCs) and ITIR delineated processing areas of APIIC in the State would be accorded the status of Industrial Authority Local Area (IALA) immediately so that the execution and maintenance of IT Industrial areas shall be effectively planned, executed and implemented by APIIC in the interest of promotion of IT sector.
The new companies would be eligible for 25 per cent subsidy on power bills for a period of 3 years from the date of commencement of commercial operation. The units established by SC, ST and women entrepreneurs shall be eligible for 50 per cent subsidy on power bills for five years.
