As part of the national initiative three electronic hardware parks are going to be set up in Andhra Pradesh-two in Hyderabad and another in Visakhapatnam. The State government is setting up the parks. Nationwide, 200 such clusters are going to be established.
The State Minister of IT and Communication Ponnala Lakshmaiah said the State government is projecting an investment of Rs 1,100 crore to develop the clusters.
The Union Government would contribute 50 per cent to the project, the Minister said. The electronic hardware industry, with a current size of $50 billion, is expected to cross $400 billion, putting huge pressure on foreign exchange reserves. It will even surpass the oil import bill, the Minister said.