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Gujarat Chief Minister Bhupendra Patel (File photo/ANI)
Gujarat Chief Minister Bhupendra Patel (File photo/ANI)

Gujarat CM floats scheme to boost industry

ANI | Updated: Oct 05, 2022 21:49 IST

Gandhinagar (Gujarat) [India] October 5 (ANI): Chief Minister Bhupendra Patel announced Aatmanirbhar Gujrat Scheme for Assistance to Industries at Gandhinagar on Wednesday, read a statement from Chief Minister's Office (CMO).
CM said that Prime Minister Narendra Modi has envisioned an Aatmanirbhar Bharat by 2047, a year when India will celebrate 100 years of Independence. Under his leadership, India has risen as the fastest-growing economy on the global map. Given this opportune time, the scheme aims to attract industries and investors and thereby create large-scale employment opportunities.
Chief Minister Bhupendra Patel, has responded to Prime Minister Narendra Modi's call of 'Aatmanirbhar Bharat' on 75 years of India's independence. The state is on a mission to fulfil the mantra of 'Aatmanirbhar Gujarat to Aatmanirbhar Bharat'.
Giving details on the scheme, the CM said, "Gujarat is a land of entrepreneurs. The state is India's manufacturing hub. It is prepared to lead India in fulfilling Prime Minister's call of Aatmanirbhar Bharat".
The CM also said that the scheme will be instrumental in providing special assistance needed by industries to enable them to become part of the global supply chains.
The scheme will go on to encourage industries to transition toward green manufacturing practices and adopt decarbonization initiatives to remain globally competitive and also align with the "Panchamrut" principles laid down by the Prime Minister of India at the COP 26 summit.
The "Aatmanirbhar Gujarat Schemes for incentives to industries" shall go on to encourage budding entrepreneurs to fulfil their entrepreneurial ambitions not only by de-risking their investments by way of increased incentives, but also, encouraging youth to innovate and become job creators, thereby creating large-scale quality job opportunities. The employment-linked incentives to MSMEs, Large and Mega enterprises shall also facilitate the formalization of the industrial workforce of Gujarat. It will also create enhanced opportunities for the development of new manufacturing sectors and their ancillary ecosystem in Gujarat that shall set global examples in manufacturing, he added.

On this occasion, Minister of State for Industries Jagdish Vishwakarma said, "33 lakh MSMEs of Gujarat have been key contributors to Gujarat's inclusive growth and generation of sustainable employment opportunities, particularly in semi-urban and rural India. Further, the state has established itself as a leader in various key sectors of the economy and has become the preferred choice of investments for investors."
Under "The Aatmanirbhar Gujarat Schemes for Assistance to Industries," incentives for MSMEs include capital subsidies of up to Rs 35 lakh for small businesses and net SGST refund to MSMEs up to 75 per cent of fixed capital investment over 10 years.
He said, "While MSMEs are crucial for the development of a resilient industrial ecosystem, it is also important to encourage large-scale investments across sectors. Such investments have had a multiplier effect on the state and national economy as well as employment generation. These large-scale investments have also created substantial opportunities for MSMEs in the state for providing forward and backward linkages. With this objective, the Government of Gujarat has also launched the "Aatmanirbhar Gujarat Scheme for assistance to Large Industries"."
Under "The Aatmanirbhar Gujarat Scheme for Assistance to Large Industries," incentives for large businesses include interest subsidies up to 12 per cent of fixed capital investment and net SGST reimbursements up to 75 per cent of fixed capital investment over a 10-year period.
In order to be globally competitive, it is important to set up mega-scale manufacturing enterprises and build on economies of scale. With this view, the Government of Gujarat has launched the Aatmanirbhar Gujarat Scheme for assistance to Mega Industries.
Under the 'The Aatmanirbhar Gujarat Schemes for Assistance to Mega Industries' include Mega Industrial Units in these thrust sectors with investment above 2500 Crore and employing more than 2500 persons shall be given incentives as well as Net SGST reimbursement to Mega industries upto 18 per cent of Fixed Capital Investment over 20 years.
MOS for Industries expressed confidence that Aatmanirbhar Gujarat schemes for assistance to industries shall transform Gujarat's manufacturing landscape in the coming years. The scheme is expected to attract an investment of Rs 12.5 lakh crores generating employment opportunities for over 15 lakh people in Gujarat.
Chief Principal Secretary to Chief Minister K. Kailashnathan, Chief Secretary Pankaj Kumar, Additional Chief Secretary of Industries Department Raj Kumar, Industries Commissioner Dr Rahul Gupta and senior officers were present during the launch of this scheme. (ANI)