Tag: Subsidies and Incentives

Government of Gujarat, to promote the business of Micro, Small and Medium enterprise has formed various subsidies like Interest Subsidy, Capital Subsidy, Technology acquisition subsidy, Market Development Assistance, Assistance for patent registration, SME IPO Subsidy etc. One of the important scheme we will here discuss is Subsidy for Patent Registration.

About Patent Registration

The India Patent Office (IPO) grants Patent Registration in India for Inventions. Once the Patent is registered, the Applicant gets monopoly over his/her Invention for a prescribed period of time (Normally twenty years from the Priority date/Patent filing date). Applicant gets the sole right over the invention to exclude others from making, using, selling and importing the Patent.

In the previous article, we have discussed in depth about capital subsidy. In this article we have discussed about interest subsidy for MSME enterprises. Government of Gujarat provides various incentives to MSME units engaged in manufacturing and service sector. One of the most important assistance is interest and interest subsidy for MSME enterprise.

What is Interest Subsidy?

Interest subsidy is reimbursement of interest expense paid by MSME enterprises with respect to their loan availed for setting up new business unit or expansion of same. Interest subsidy is available manufacturing units as well as service sector units. Purpose of interest subsidy for MSME is to reduce the financial burden on enterprises for their loans availed.

Research and development is a key to Speech and the road and imperative to compete at a global level. The Gujarat Industrial Policy, 2020 aims to encourage companies to keep pace with rapid technological advances. The policy focuses on promotion of R&D in the state by companies as well as institutions and boost continuous innovation-led development. To promote more and ore R&D activities, government of Gujarat has came out with revised scheme of subsidy for R&D Activities in Gujarat.