Aatmanirbhar Gujarat Scheme for assistance to Large Industries and Thrust Sector: Assistance of Interest Subsidy

Aatmanirbhar Gujarat Scheme for Large Industries and Thrust Sector: Interest Subsidy Assistance

The “Aatmanirbhar Gujarat Scheme for Large Industries and Thrust Sector” is designed to incentivize investments in the manufacturing sector of Gujarat, thereby fostering job creation and economic growth. This initiative, launched by the Industries and Mines Department of Gujarat, aims to bolster the state’s large industrial sector, which plays a crucial role in contributing to the GDP, employment, and exports.

Overview of the Scheme

Commencing on October 5, 2022, and continuing until October 4, 2027, this comprehensive scheme strives to promote the vision of “Aatmanirbhar Gujarat” and “Aatmanirbhar Bharat.” The component titled “Assistance of Interest Subsidy” extends financial aid to large industrial entities by reimbursing a portion of the interest incurred on term loans. This subsidy aims to stimulate industrial development, enhance expansion efforts, and facilitate diversification by alleviating borrowing expenses for qualifying projects.

Benefits of the Scheme

Eligibility Requirements

• This scheme is open to new large industrial undertakings or existing ones that are expanding or diversifying.
• The undertaking must have received acknowledgment or registration from the Department for Promotion of Industry and Internal Trade (DPIIT).
• The industry must initiate commercial production within the active period of the scheme.

Exclusions

Any large industrial undertaking that has already availed itself of incentives for the same Gross Fixed Capital Investment (eFCI) under any state government initiative or its agency will not qualify, unless explicitly stated otherwise.

Application Procedure

Online Registration Process:

1. Navigate to the Investor Facilitation Portal (IFP). Click on “New Investor Registration” to access the registration form.
2. Complete the Registration Form and click “Submit.”
3. Verify your email by clicking the link sent to your registered email address.
4. Once verified, your registration will be successful.

Post-Registration Steps:

1. Return to the Investor Facilitation Portal (IFP). Click on “Login.”
2. Input the email address and password used during registration.
3. Click the “Login” button to access your account.
4. Fill in the necessary details and upload required documents about your business to complete the application process.

Contact Information

If you require assistance, please contact our helpdesk.

Definitions

• Large Industrial Undertaking: An industrial establishment with a fixed capital investment exceeding INR 50 crores, which has filed an Industrial Entrepreneurs Memorandum or obtained any other necessary license or approval as mandated by the Government of India.
• Thrust Sector: This refers to sectors identified as having significant potential and requiring additional support to achieve global competitiveness.
• Gross Fixed Capital Investment (GFCI): This encompasses investments made in land, buildings, plants and machinery, utilities, tools, equipment, and other fixed assets necessary for manufacturing the final product.
• Eligible Fixed Capital Investment (EFCI): This includes investments made after the issuance of the relevant Government Resolution (GR) and up to the deadline of the eligible investment period.
• Date Of Commercial Production (DoCP): For new units, this date is the first sale bill of the products for which the project was set up. For expansion or diversification projects, it refers to the first sale bill of the products resulting from the expansion or diversification.

For more detailed information, please visit the official source at myScheme.gov.in.