Chennai: Chief Minister Edappadi K Palaniswami on Monday unveiled the new Electronics Hardware Manufacturing Policy 2020, which aims to increase the State’s electronic industry output to USD 100 billion by 2025.
The policy aims to transform the State into an innovative and a globally competitive Electronics System Design and Manufacturing (ESDM) destination.
The mission of the new policy was to provide adequate infrastructure and supporting ecosystem to ESDM companies, attract global major ESDM players to invest in Tamilnadu, incentivize home-grown start-ups in the ESDM sector both in the component and OE/product manufacturing sub-sectors, catalyse the growth of
innovation led enterprises involved in the manufacturing of hardware products and solutions and to develop the semiconductor fabrication (FAB) industry in Tamilnadu.
The policy has targetted to increase Tamilnadu’s electronics industry output to USD 100 billion by 2025, contribute 25 per cent of India’s total electronic exports to the world by 2025, undertake skill training for more than 1,00,000 people (semi-skilled and skilled) by 2024 to meet the incremental human resource requirement projected by NSDC for Tamilndu in Electronics and Hardware Manufacturing sector, increase the level of value addition that was done in Tamil Nadu, especially across focus sectors such as Mobile Handsets, LED Products,
Fabless Chip Design, PCBs, Solar Photovoltaic Cells, Medical Electronics, and Automotive Electronics, undertake a focused R and D program to achieve these objectives and foster an environment of research and innovation.
Under the policy, which also offers a slew of financial initiatives for large and mega categories of investors, all new or expansion electronic manufacturing units will be given electricity tax exemption for a period of five years from the date of commercial production on power purchased from the TANGEDCO or generated and
consumed from captive sources.