State Government of Andhra Pradesh(AP) has approved Iot (Internet of Things) policy for the year 2016-2020. The new IT initiative aims to develop 1,000 companies and train over 6,000 scientists, innovators, engineers and entrepreneurs in AP, and create over 2,500 jobs over the next 5 years. The newly formed AP State government will promote setting up of 10 IoT hubs with active participation of the private sector.
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"Government of India was currently drafting a policy to create an IoT industry worth USD 15 billion by 2020. “We want to position AP as the IoT Hub in the country and accordingly approved the IoT Policy 2016-20 to grab a market share of USD 1.5 billion by 2020." said IT Minister Palle Raghunadha Reddy.
IoT Policy 2016-2020
Direct employment for at least 50,000 people in IoT verticals
Promote 10 hubs with private participation
Attract 100 IoT companies, units or entities to set up their facilities and development centres and develop physical and technical IoT infrastructure
IoT and non hazardous electronic hardware manufacturing entities will be exempt from the purview of AP Pollution Control Act, except when it comes to power generation sets, which arIf te subject to clearances by the AP Pollution Control Board.
IoT companies have to file self certifications under labour laws.
The state government will also set up IoT centres of excellence, create an innovation fund, and offer financial and non financial incentives from the Consultative Committee of IT Industry.
What kind of IoT companies can be started?
Research and development, lab/assembly/systems integration, device and hardware manufacturing, software applications and analytics, and IoT hubs/infrastructure.
What benefits IoT companies get?
Companies which are in existence for a year, filed income tax returns in India or abroad for the last 2 years and possess commitment letters of at least 10 IoT companies. Allotment of land will be conditional to construction, commission and creation of fresh employment of 250 people per acre (at least 50% for people with AP origin or domicile) within 3 years from the date of getting the land.
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