In a bid to increase electronics industry output to $100 billion by 2025, the Government of Tamil Nadu announced a new Electronics & Hardware manufacturing policy on September 7. The state hopes to contribute 25 per cent of India’s total electronic exports to the world by 2025.
The new policy also includes skill training for over 1,00,000 people (semi-skilled and skilled) by 2024 to meet the incremental human resource requirement projected by NSDC for Tamil Nadu in Electronics and Hardware Manufacturing sector.
The new hardware policy further aims to increase the productivity in Tamil Nadu, especially across focus sectors such as mobile handsets, LED products, chip designs, PCBs, solar photovoltaic cells, medical electronics, and automotive electronics.
Similar to the National Policy of Electronics 2019, the Tamil Nadu government will provide assistance for developing core competencies in the sub-sectors.
Further, the new policy targets undertake a focused research and development program to achieve the above objectives and foster an environment of research and innovation, foster a conducive environment for ESDM start-ups. The incentives offered by the state would be an addition to what the Centre is offering. Investments made from January 1, 2020, will be considered eligible for availing incentives.
The state also looks forward to formulating a special package for ESDM units and MSMEs which will include capital subsidy, interest subvention, low tension power tariff subsidy, generator subsidy, assistance for obtaining intellectual property and assistance in obtaining certifications.