Gujarat Government launches ‘Aatmanirbhar Gujarat’ scheme for MSMEs and heavy industries | The Financial Express

Gujarat Government launches ‘Aatmanirbhar Gujarat’ scheme for MSMEs and heavy industries

Ease of Doing Business for MSMEs: The ‘Aatmanirbhar Gujarat’ scheme gives different types of incentives to mega and heavy industries as well as MSMEs, said Gujarat Chief Minister Bhupendra Patel.

Gujarat Government launches ‘Aatmanirbhar Gujarat’ scheme for MSMEs and heavy industries
The chief minister said the scheme will be instrumental in providing special assistance needed by industries to enable them to become part of the global supply chains.

Ease of Doing Business for MSMEs: Gujarat Government on Wednesday introduced the ‘Aatmanirbhar Gujarat’ scheme to provide assistance and various incentives to industries. The scheme was launched by the state’s Chief Minister, Bhupendra Patel to boost the manufacturing sector ahead of the Gujarat assembly polls scheduled to be held by the end of this year. 

“Gujarat is a land of entrepreneurs. The state is India’s manufacturing hub. It is prepared to lead India in fulfilling Prime Minister Narendra Modi’s call of Aatmanirbhar Bharat,” Patel said.

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The chief minister said the scheme will be instrumental in providing special assistance needed by industries to enable them to become part of the global supply chains.

The ‘Aatmanirbhar Gujarat’ scheme for incentives to industries shall encourage budding entrepreneurs to fulfil their entrepreneurial ambitions, he added. 

He further said that the scheme gives different types of incentives to mega, heavy and micro industries as well as micro, small and medium enterprises (MSMEs).

For MSMEs, the incentives include capital subsidy up to Rs 35 lakh for micro Industries, interest subsidy of upto Rs 35 lakh per annum for up to 7 years, Employees’ Provident Fund (EPF) reimbursement for 10 years and incremental incentives to women entrepreneurs, young entrepreneurs, startups and differently-abled entrepreneurs.

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The incentives for large enterprises under this scheme include interest subsidy of up to 12 per cent on fixed capital investment, Employees’ Provident Fund (EPF) reimbursement for 10 years, net State Goods and Services Tax (SGST) reimbursement of up to 75 per cent of fixed capital investment over 10 years and electricity duty exemption for five years.

Earlier in September, Gujarat government announced their partnership with Vedanta-Foxconn group to set up a semiconductor plant in the state with an investment of $20 billion.

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