Gujarat Chief Minister Bhupendra Patel rolled out a slew of incentives for the micro, small and medium enterprises, as well as large and mega industries of the state. The government hopes to attract investments worth £125 billion in order to employ 15,00,000 young people.
Patel said that the plan seeks to draw businesses and investors, resulting in a significant increase in employment opportunities. The scheme will be crucial in giving industries the unique assistance they need to join global supply chains."
Under the scheme, micro industries will attract capital subsidies of up to Rs 35,00,000, MSMEs will receive interest subsidies for up to seven years, as well as additional incentives for women, young, new, and differently abled business owners.
On the other hand, large-scale and mega industries will get an interest subsidy of up to 12% of fixed capital investment. Furthermore, mega investments with a minimum investment of £250 million and a commitment to employ 2,500 people will receive net SGST reimbursement of up to 18% of fixed capital investment over 20 years, and 100% of input SGST paid on capital goods will be reimbursed over 20 years. In addition to 100% reimbursement of stamp duty and registration charges paid to the government for the purchase and/or lease of land meant for the project.
