Andhra Pradesh had acquired a leadership position in e-Governance and Information Technology. The Growth was initiated by the availability of rich talent pool, lower cost of operations and in some measure due to the innovative policies of the Andhra Pradesh Government. Consequent of the reorganisation of the State, it is imperative to revisit the existing policy initiatives and make them more attractive to suit the current and future requirements of the new State of Andhra Pradesh.
The Government of Andhra Pradesh has developed a 5 year policy ‘Andhra Pradesh IT Policy 2014-2020’ to establish its dominance in IT technology and services.
Objective and target of the policy
1) To attract Investments of US $ 5 billion in electronics manufacturing and US $ 2 billion in IT. 2) To achieve 5% share in national exports of software. 3) To be the 1st in India in quality and quantity of E-services.
Subsidy, Assistance and Reimbursements of the policy Human Capital
Skill Enhancement by MSMEs will get Assistance by reimbursement of 50% of training fee, max of Rs.10,000 per employee limited to Rs.1 lakh.
Recruitment Assistance of INR 15 lakhs to the SMEs.
Infrastructure
Rebate on Cost of Land Allotted will be in the range of Rs.60,000 to 40,000 depending on project scale and a maximum of 80% of the land cost.
Fiscal Incentives
Registration fee on 1st transaction and 50% thereof. Stamp duty reimbursement of 100%
MSME will get 25% subsidy on power bills for 3 years from the date of commencement of commercial operations or Rs.30 lakh, whichever is earlier. SC/ST and women entrepreneur will get 50% subsidy or Rs.50 lakhs whichever is earlier.
Other incentives
Other incentives include Exemption of Electricity Duty and applicability of Industrial Tariff of 100% for 5 years, Patent Filing Cost Rs.5 lakh per domestic patent awarded and rs.10 lakh per international patent awarded, Quality certification reimbursement of 20% maximum of Rs.5 lakhs, Market Development, Recruitment / Training Assistance.
Additional Incentives available to IT Units established by Women Entrepreneurs of 20% on the Fixed Capital with a maximum limit per unit of Rs.20 Lakh.
The Scheme is a gold mine for IT professionals and IT businessmen.
