The electronics hardware industry has asked the Centre to announce a tax holiday for the industry to help it grow. “We need tax sops similar to that given to the IT services industry,” Mr N. Shiva Prasad, President of the Electronics Industry Association of Andhra Pradesh (ELIAP), said.
Addressing a CII workshop on ‘new policy initiatives and investment opportunities in the electronics hardware industry’ here on Wednesday, he said the growth of the electronics hardware industry had lagged behind the IT services industry.
“Electronics imports of the country would cross $400 billion by 2020, far surpassing the oil import bill. We need to grow the local industry to reduce this burden,” he said.