Gujarat eyes Rs.12-lakh Crore Investment, 15 Lakh Jobs under New Scheme for Industries!! Under a new industrial programme, Gujarat aims to attract Rs.12 billion worth of investment and create 15 lakh employments. Check details here.
October 6, Ahmedabad, the “Aatmanirbhar Gujarat Scheme for Assistance to Industries” was presented by the Gujarati government in order to spur the development of roughly 15 lakh jobs and investments totalling Rs.12 lakh crore.
Mega industries, big industries, thrust sectors, and micro-small and medium-sized businesses (MSMEs) will all receive incentives for growing their manufacturing and supporting ecosystems.
On Wednesday, Chief Minister Bhupendra Patel said the programme would be essential in giving firms specific help so they could join international supply chains.He said that the programme “would continue on to encourage sectors to migrate towards green manufacturing processes, implement de-carbonization measures, and comply with the ‘Panchamrut’ principles laid down by the Prime Minister at the COP 26 conference.”
MSMEs:
The incentives for Micro-Small and Medium-Sized Enterprises (MSMEs) are meant to motivate aspiring business owners to lower the risk of their investments and produce jobs.
SGST reimbursements up to 75% of fixed capital investments made by registered MSMEs over a ten-year period, capital subsidies up to Rs.35 lakh for micro industries, interest subsidies up to Rs.35 lakh per year for up to seven years, EPF reimbursement for ten years, and electricity duty exemption for five years are just a few of the incentives available. The scheme will encompass units with fixed capital investments of up to Rs.50 crore.
Additionally, the programme offers additional incentives to start-ups, entrepreneurs with disabilities, young, female, and female entrepreneurs. “33 lakh MSMEs of Gujarat have been important contributors to Gujarat’s inclusive growth and generation of sustainable employment opportunities, particularly in semi-urban and rural India,” stated JagdishVishwakarma, Minister of State for Industries.
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Sectors of thrust:
Manufacturing companies investing more than Rs.50 crore in fixed capital in areas like green energy, mobility, capital equipment, metals and minerals, textiles and apparel, sustainability, agro-processing, gems and jewellery, and healthcare will receive interest subsidies of up to 7% for 10 years as well as a full refund of net SGST for the same period.
Mega Corporations:
The government is aiming to establish mega-scale manufacturing businesses and capitalise on economies of scale in order to be globally competitive. Increased research and development in these fields will be aided by such mega-scale companies.
Incentives include interest subsidy at 7% on term loans, refund of input SGST, EPF reimbursement, and reimbursement on stamp duty and registration fees for manufacturing plants in the key sectors with an investment of at least Rs.2,500 crore and at least 2,500 employees.
The government anticipates transforming the manufacturing environment in the State with the most recent announcements made prior to the assembly elections. Follow our site for daily updates.
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