Andhra Pradesh Boosts IT and Electronics Sector with Rs 300 Crore Incentive Plan

The Andhra Pradesh government, aiming to strengthen its IT and electronics sector, has allocated Rs 300 crore for incentives in fiscal year 2025-26. Rs 60 crore has already been distributed during the third quarter, focusing on innovation and infrastructure to attract global tech firms and bolster employment.

The Andhra Pradesh government has taken a significant step to enhance its IT and electronics sector by earmarking Rs 300 crore as incentives in the fiscal year 2025-26. On Wednesday, the state released Rs 60 crore as part of the third quarter budget through its IT Department.

This fund allocation, sanctioned by the finance department, aims to provide financial benefits to organizations and industries that align with the state's strategic policies, including the Andhra Pradesh IT & GCC Policy 4.0 and Andhra Pradesh Electronics Manufacturing Policy 4.0, covering the period from 2024 to 2029.

The initiatives focus on bolstering infrastructure, such as co-working spaces, to attract global IT companies, foster innovation, and promote the state's role as a hub for electronics manufacturing and emerging technologies.

(With inputs from agencies.)