Gujarat Industrial Policy, 2022
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Industrial Policy , 2022
Industrial Policy has been setup to promote the micro, small, medium businesses that lead to ease of doing business, better infrastructure, innovation, and employment generation. To make the state a platform for manufacturer and service provider, the government has introduced this scheme and provide fiscal incentives to these sectors.
This scheme shall be effective for 5 years from 2020 to 2025 to avail the benefits under this scheme.
Under this Industrial Policy, The state government will provide the assistance to promote the MSME and other sector by providing the incentives in way of capital subsidy, interest subsidy, power charges exemption etc. to support financially in their business.
The location of Gujarat is categorized in 3 taluka category as per the location of business and the subsidy will avail as per the category under which business unit falls.
Who Can take the Benefits:
1. Micro, Small and Medium Enterprises (MSME)
2. Thrust Sectors (includes Auto sector, technical textile, Agro based, chemicals, industrial machinery & equipment)
3. Large, Mega and Ultra-Mega Industry Policy.
Financial Assistance/Subsidy/Benefits Available:
The Quantum of Assistance as under would be provided as per the given below terms:
1. Capital Subsidy:
For category 1- 25% of Eligible Term Loan amount subject to maximum Rs. 35 Lakh.
For category 2- 20% of Eligible Term Loan amount subject to maximum Rs. 30 Lakh.
For category 3- 10% of Eligible Term Loan amount subject to maximum Rs. 10 Lakh.
2. Interest Subsidy:
For category 1- 7% of Term Loan amount disbursed subject to maximum Rs. 35 Lakh per year for 7 Years.
For category 2- 6% of Term Loan amount disbursed subject to maximum Rs. 30 Lakh per year for 6 Years.
For category 3- 5% of Term Loan amount disbursed subject to maximum Rs. 25 Lakh per year for 5 Years.
3.Technology upgradation & Acquisition Support:
65% of cost payable to the recognized institution subject to maximum of Rs 50 Lakhs for acquisition of technology or for the acquisition of patented technologies from foreign Companies.
4. Collateral Free Loans:
Under this scheme, assistance will provide to facilitate the Collateral free loans under CGTMSE scheme of Government of India.
5. Power connection charges:
Assistance up to 35% of charges paid to distribution licenses for LT/HT service line subject to maximum of Rs 5 Lakh.
There are other various industrial policy available to support the business and promote the MSME, thrust sector and other businesses in the state.
So if you are going to plan for set up a New Business Unit then You should plan according to above said scheme.
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