Gujarat Chief Minister Bhupendra Patel has rolled out an ambitious scheme of attracting investment of Rs 12.50 trillion and employment generation for at least 15 lakh people in the next five years under Aatmanirbhar Gujarat Schemes for Assistance to Industries.
The schemes announced by Gujarat CM are based on two themes – Greening the manufacturing process as well as contributing to the global supply chain. The schemes under Aatmanirbhar Gujarat will be instrumental in providing special assistance needed by industries to enable them to become part of the global supply chains.
The Aatmanirbhar Gujarat Schemes for Assistance to Industries is aimed to encourage budding entrepreneurs to fulfil their entrepreneurship ambitions not only by de-risking their investments through incentives but also by encouraging youth to innovate and become job creators.
As per the schemes, MSMEs would get Net SGST reimbursement up to 75% of fixed capital investment over 10 years and capital subsidy up to Rs 35 lakh for micro industries. Besides, there is a provision for interest subsidy to MSMEs up to Rs 35 lakh per annum for up to 7 years and electricity duty exemption for five years.
Large industries will get exemption on electricity duty for five years. Manufacturing units having a fixed capital investment of above Rs 50 crore in plant and machinery would be eligible as large industries.
Mega industries will get a boost under the new initiative of the Gujarat government as there is the provision of Net SGST reimbursement to mega industries up to 18% of fixed capital investment over 20 years and 100% of input SGST paid on capital goods shall be reimbursed over 20 years. Mega industries under these schemes would avail of 100% reimbursement of stamp duty and registration charges paid to the Government of Gujarat for the purchase and/or lease of land meant for the project.
