Chief Minister N Chandrababu Naidu has said the AP government has special interest in attracting investments in the hardware sector with attractive policies, in view of the demand for electronics goods in the global market.
As many as 76 Memorandums of Understanding (MoUs) worth Rs 30,000 crore have been signed in the IT and electronics sectors on the third day of the CII Partnership Summit here on Monday. According to officials, the investments will create around 1.31 lakh employment. Speaking in a session on electronics, he said the promotion of hardware is the need of the hour and the AP government had come up with attractive policies for the investors.
According to The New Indian Express, Naidu said “Earlier there was boom for software and now hardware, electronics manufacturing in particular, has a lot of scope. The AP government has been promoting manufacturing of mobiles, set-top boxes and washing machines. India has been importing around 400 million dollar worth hardware equipment from other countries and it is the right time to cash in on the opportunity. AP will play its role in manufacturing of hardware in India,” Naidu said. He said in 2014, electronics manufacturing sector was negligible and it has increased to about 20 per cent last year. “The ultimate target is to have 80 per cent of manufacturing in AP itself, for which we have been promoting innovations and entrepreneurship in this sector.” IT Minister Nara Lokesh explained about the e-governance followed by the State government.