<p>The Electronic Hardware Policy-2011, approved by the State Cabinet on Tuesday envisages proliferation of the industry in the State.<br /><br />Under the policy, the government has proposed to set up four electronic hardware manufacturing hubs across the State. Four corridors have been identified for the purpose: Bangalore-Tumkur, Mysore-Nanjangud, Shimoga-Hassan and Hubli-Dharwad. <br /><br />Each hub, to be spread over 1,000 acres, will be developed under public-private partnership. The dedicated facilities will have educational institutions focussing on aerospace, alternative energy, medical electronics, automotive electronics and embedded systems. They will also have internationally-accredited testing labs, product qualification houses, power plants, hotels and business centres.<br /><br />The thrust of the policy is on supporting investors and generating employment for ITI graduates, diploma holders and semi-skilled workforce.<br /><br />All the companies setting up shop at these hubs will be extended 20 per cent Viability Gap Funding. The facility is being provided since companies usually do not find it financially viable to invest in small cities, officials said.<br /><br />The global electronic hardware manufacturing market is estimated to be $1,500 billion. China, South Korea, Malaysia, Singapore, Taiwan and Thailand together produce 92 per cent of electronic goods in the Asia Pacific region whereas India has a minuscule share of 1.5 per cent. The policy states Karnataka’s contribution to India’s electronic hardware market is a mere six per cent. <br /><br />Exemptions<br /><br />The policy has proposed to exempt the investors from paying stamp duty in respect of loan agreements, mortgage and hypothecation deeds executed to avail term loans from the state government or state financial corporation. <br /><br />The quantum of exemption varies with the location of the industry. The investors get concession in registration fees and enjoy waiver of conversion fee to appropriate agricultural land for industrial purposes.</p>.<p>*Bangalore-Tumkur, Mysore-Nanjangud, Shimoga-Hassan and Hubli-Dharwad will be the hubs<br /><br />*Stamp fee exempted on loan documents for investors<br /><br />*20% percent viability gap funding for promoters </p>
<p>The Electronic Hardware Policy-2011, approved by the State Cabinet on Tuesday envisages proliferation of the industry in the State.<br /><br />Under the policy, the government has proposed to set up four electronic hardware manufacturing hubs across the State. Four corridors have been identified for the purpose: Bangalore-Tumkur, Mysore-Nanjangud, Shimoga-Hassan and Hubli-Dharwad. <br /><br />Each hub, to be spread over 1,000 acres, will be developed under public-private partnership. The dedicated facilities will have educational institutions focussing on aerospace, alternative energy, medical electronics, automotive electronics and embedded systems. They will also have internationally-accredited testing labs, product qualification houses, power plants, hotels and business centres.<br /><br />The thrust of the policy is on supporting investors and generating employment for ITI graduates, diploma holders and semi-skilled workforce.<br /><br />All the companies setting up shop at these hubs will be extended 20 per cent Viability Gap Funding. The facility is being provided since companies usually do not find it financially viable to invest in small cities, officials said.<br /><br />The global electronic hardware manufacturing market is estimated to be $1,500 billion. China, South Korea, Malaysia, Singapore, Taiwan and Thailand together produce 92 per cent of electronic goods in the Asia Pacific region whereas India has a minuscule share of 1.5 per cent. The policy states Karnataka’s contribution to India’s electronic hardware market is a mere six per cent. <br /><br />Exemptions<br /><br />The policy has proposed to exempt the investors from paying stamp duty in respect of loan agreements, mortgage and hypothecation deeds executed to avail term loans from the state government or state financial corporation. <br /><br />The quantum of exemption varies with the location of the industry. The investors get concession in registration fees and enjoy waiver of conversion fee to appropriate agricultural land for industrial purposes.</p>.<p>*Bangalore-Tumkur, Mysore-Nanjangud, Shimoga-Hassan and Hubli-Dharwad will be the hubs<br /><br />*Stamp fee exempted on loan documents for investors<br /><br />*20% percent viability gap funding for promoters </p>