Gujarat CM launches schemes for assistance to industries

Gandhinagar, Oct 5 (IANS) Gujarat Chief Minister Bhupendra Patel on Wednesday announced 'The Atmanirbhar Gujarat Schemes for Assistance to Industries' with an aim to attract Rs 12.50 lakh crore investment in the state and generate job opportunities for 15 lakh youths.

Sharing details of the scheme, the Chief Minister said, "MSME will get up to 75 per cent net SGST reimbursement on the fixed capital investment over 10 years, capital subsidy up to Rs 35 lakh to Micro Industries and interest subsidy to MSMEs up to Rs 35 lakh per annum upto 7 years."

For large enterprises, interest subsidy up to 12 per cent on Fixed Capital Investment, net SGST reimbursement to large industries up to 75 per cent of Fixed Capital Investment over 10 years, incremental support to thrust manufacturing sectors and electricity duty exemption for five years. This benefit is extended to nine sectors including 22 sub sections in the manufacturing sector.

If any company is investing more than Rs 2,500 crore in selected 10 manufacturing sectors and its 23 sub sectors, giving employment to minimum 2,500 persons, will be entitled to get 12 per cent of Fixed Capital Investment. Units will get Net SGST reimbursement to Mega industries up to 18 per cent on Fixed Capital Investment over 20 years. Electricity Duty Exemption for five years.