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Ahmedabad, Oct 6 The Gujarat government has unveiled the 'Aatmanirbhar Gujarat Scheme for Assistance to Industries,' to unlock investments to the tune of Rs 12 lakh crore and job creation for about 15 lakh in the coming years.
Incentives are to be given to micro-small and medium industries (MSMEs), large industries and thrust sectors, as well as mega industries, to develop manufacturing and the ancillary ecosystem.
Chief Minister Bhupendra Patel on Wednesday said the scheme would be instrumental in providing special assistance to industries, to enable them to become part of global supply chains. "The scheme will go on to encourage industries to transition towards green manufacturing practices and adopt de-carbonisation initiatives and align with the 'Panchamrut' principles laid down by the Prime Minister at the COP 26 summit," he said.
MSMEs
The incentives to Micro-Small and Medium Enterprises (MSMEs) is aimed at encouraging budding entrepreneurs to de-risk their investments and create employment opportunities.
Registered MSMEs are eligible for incentives that include SGST reimbursements up to 75 per cent of the fixed capital investment over 10 years, capital subsidy of up to Rs 35 lakh for micro industries, interest subsidy up to Rs 35 lakh per annum for up to 7 years, EPF reimbursement for 10 years, electricity duty exemption for five years, among others. Units having fixed capital investments of up to Rs 50 crore will be included in the scheme.
The scheme also provides incremental incentives to women entrepreneurs, young entrepreneurs, start-ups and differently-abled entrepreneurs.
Jagdish Vishwakarma, Minister of State - Industries said, "33 lakh MSMEs of Gujarat have been key contributors to Gujarat’s inclusive growth and generation of sustainable employment opportunities, particularly in semi-urban and rural India."
Thrust sectors
Manufacturing enterprises with fixed capital investment of above Rs 50 crore in the green energy ecosystem, mobility, capital equipment, metals and minerals, textile and apparel, sustainability, agro processing, gems and jewellery and healthcare are to get interest subsidy of up to 7 per cent for 10 years and complete reimbursement of net SGST for 10 years, among others.
Mega Industries
In order to be globally competitive, the government is looking to set up mega-scale manufacturing enterprises and build on economies of scale. Such mega-scale industries would help in increased research and development in such sectors.
Manufacturing units in the thrust sectors, having investment of at least Rs 2,500 crore and employing at least 2,500, would be provided incentives such as interest subsidy at 7 per cent on term loans, reimbursement of input SGST, EPF reimbursement, and reimbursement on stamp duty and registration fees.
With the latest announcements ahead of the assembly elections, the government expects to transform the manufacturing landscape in the State.
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