Our Honourabe prime minister Shri Narendra Modi has given vision for Make In India, Startup India to boost manufacturing indutries in India to stand at par with developed nations. Government of Gujarat(GoG) since last decade taken numerous initiatives to boost up the Manufacturing industries. GoG give several subsidies and Incentives for such industries. Lets have a look at 5 subsidies to start business in Gujarat.
1. Assistance of Capital Investment Subsidy:
Who will be eligible?
- The Enterprise registered as an industrial unit under MSME Development act, 2006 with respective DIC as manufacturing enterprise.
- Subsidy eligible only for new and existing enterprises going for expansion or diversification. For existing enterprise investment in fixed assets should be more than 50% of total existing fixed assets and such investment should be minimum 60% only in plant and machinery.
- For carrying out Modernization of existing unit with investment in plant –machinery and equipment by more than 25% of its existing gross fixed capital investment, such modernization should be carried out by way of adopting new technology/ production process and/or improving quality of products.
- Only one expansion/diversification and one modernization during operative period is eligible to new unit set up during operative period of the scheme. Similarly one expansion/ Diversification and one Modernization during operative period shall be eligible to existing enterprises as on 1st January 2015. THAT MEANS THAT ENTERPRISE CAN CLAIM SUBSIDIES ONLY ONCE IN INDUSTRIAL POLICY, 2015.
- Old & second hand machinery will not be eligible for assistance.