Andhra Pradesh Electronics Manufacturing Policy 2024-29
Unlocking Growth in Electronics ManufacturingThe Government of Andhra Pradesh (GoAP) has launched the Andhra Pradesh Electronics Policy 2024-29 with the ambitious goal of transforming the state into a premier electronics manufacturing hub. This policy is designed to attract investments and encourage both new and existing units to establish or expand their presence within the state. By offering a comprehensive package of financial incentives, the policy aims to create a robust ecosystem for electronics manufacturing, fostering job creation and economic growth.
Incentives and Subsidies
The policy provides a range of financial incentives tailored to the size and investment of the electronics projects. The overall incentives a company can claim shall not exceed 75% of the eligible Fixed Capital Investment (EFCI).
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Explore government incentives, capital subsidies, and policy benefits available for industries in Andhra Pradesh.
|
Subsidy Type |
Sub Large Projects |
Large Projects |
Mega Projects |
|
Capital Subsidy |
20% of EFCI, disbursed in 5 equal annual installments. Additional 5% for projects achieving value addition. |
25% of EFCI, disbursed in 7 equal annual installments. Additional 5% for projects achieving value addition. |
30% of EFCI, disbursed in 10 equal annual installments. Additional 5% for projects achieving value addition. |
|
Power Cost Reimbursement |
Fixed power cost reimbursement at ₹1 per unit for 5 years. |
Fixed power cost reimbursement at ₹1 per unit for 5 years. |
Fixed power cost reimbursement at ₹1 per unit for 5 years. |
|
Net State Goods and Services Tax (SGST) Reimbursement |
100% of net SGST on the sale of final products for a period of 5 years. |
100% of net SGST on the sale of final products for a period of 5 years. |
100% of net SGST on the sale of final products for a period of 5 years. |
|
Stamp Duty & Registration |
100% reimbursement on stamp duty for land purchase, lease, and mortgage. |
100% reimbursement on stamp duty for land purchase, lease, and mortgage. |
100% reimbursement on stamp duty for land purchase, lease, and mortgage. |
|
Recruitment Assistance |
₹4,000 per male and ₹6,000 per female employee per month for 6 months, for first-time recruits. |
₹4,000 per male and ₹6,000 per female employee per month for 6 months, for first-time recruits. |
₹4,000 per male and ₹6,000 per female employee per month for 6 months, for first-time recruits. |
Eligibility Criteria
The policy is applicable to all new and existing enterprises that are either investing in a new unit or expanding their current operations within the geographical boundaries of Andhra Pradesh. The units must meet the investment criteria outlined for each project category
Ineligibility Criteria
The policy document does not explicitly list ineligibility criteria. However, it mentions that all incentives are contingent upon adherence to operational guidelines that will be notified separately. The overall incentives are capped at 75% of the Fixed Capital Investment.
How to Apply for the Scheme
The policy outlines a "Single Window Mechanism 2.0" to facilitate the application process. Investors can obtain clearances and renewals from various departments through a single desk portal. The government is committed to providing a conducive business environment with a "speed of doing business" approach.
Application and Approval Process
The state government has implemented a streamlined process for project approvals and incentive disbursements through its Single Desk Portal. This process is designed to reduce delays and simplify the investor's experience. The operational guidelines will provide more detailed procedures for availing incentives.
Important Points to Avoid Subsidy Cancellation
While the policy document does not explicitly state reasons for cancellation, it is critical for applicants to comply with the following:
- Operational Guidelines: Adherence to the yet-to-be-notified operational guidelines is mandatory for receiving incentives.
- Investment and Employment Ratios: The policy offers additional incentives for projects that demonstrate a higher employment-to-investment ratio. Failure to meet these criteria could impact the final incentives received.
- Budget Availability: The release of incentives is subject to the availability of the government budget
Why choose Unique Group as your subsidy consultant?
Navigating the nuances of government policies like the Andhra Pradesh Electronics Policy 2024-29 requires specialized expertise. Unique Group stands as your trusted partner, providing end-to-end consulting services to ensure you secure all available incentives. Our team of policy experts will analyze your project, guide you through the single-window application process, and ensure all documentation is meticulously prepared to avoid any delays or complications. We are committed to maximizing your subsidy claims and helping your business thrive in Andhra Pradesh's burgeoning electronics sector.