Incentive Scheme for MSMEs in Powerloom Sector: State Capital Investment Subsidy
“State Capital Investment Subsidy” incentives under “Incentive Scheme for MSMEs in Powerloom Sector” scheme implemented by the Dept. of MSME & T, Government of West Bengal, aims to provide subsidy of the fixed capital investment made for its approved project.
About This Scheme
The scheme “State Capital Investment Subsidy” is a sub scheme under the “Incentive Scheme for MSMEs in Powerloom Sector”. It was launched on 1st January, 2022, by the Department of Micro, Small & Medium Enterprises and Textiles, Government of West Bengal, and shall remain valid upto 31st December, 2024.
Objective of the “Incentive Scheme for MSMEs in Powerloom Sector”:
The objective of the Scheme is to extend fiscal incentives for installation of New age shuttleless Powerlooms by MSMEs in Textile sector with a view to boost production of the improved quality fabrics and to create a sustainable ecosystem for MSMEs in Textile sector which can maximize the utilization of resource, generate new employment and widen the area of operation to make the State emerge as the leader in Powerloom sector in country.
Objective of the “State Capital Investment Subsidy” Sub-scheme:
Through this incentive, an eligible micro or small or medium enterprise in Powerloom sector irrespective of area/ zone will be entitled to Capital Investment Subsidy for its approved project of fixed capital investment on Plant and machinery (new age shuttle less powerloom).
Benefits
20% of Fixed Capital Investment on Plant and machinery.
Eligibility Criteria
The Scheme shall be generally applicable to all micro, small, and medium enterprises (MSMEs) in the powerloom sector.
Enterprises must have started production from 01.01.2022 to 31.12.2024.
Enterprises should have executed a Four-party agreement with the Directorate of Textiles, Financial institution and Tantuja.
The units should be a private sector, cooperative sector and joint sector undertaking as also companies/undertakings
owned and managed by the State Government and the Industrial SHGs.
The project should be covered by a detailed feasibility report/project prepared for the purpose.
The project should have been approved and sanctioned by a Central Financial Institution or Commercial Banks or State Financial Institutions.
Application Process
Apply Offline
A micro, small or medium enterprise in Powerloom segment shall duly apply in prescribed form to the Directorate of Textile in
Form-A1
before any investment in Plant and machinery (new age shuttle less loom).
Time frame for submission of first Application:
Within 12 months from the date of commencement of commercial production (01.01.2022 to 31.12.2024).
Address:
Directorate of Textiles, Handlooms, Spinning Mills, Silk Weaving & Handloom Based Handicrafts Division
New Secretariat Buildings,
1, K. S. Roy Road, 5th Floor, ‘B’ Block,
Kolkata 700001
Tel No. 033-2248 4537 / 2248 6271 (Ext. 215)
Fax No. 033-2248 4537
Official Source: View on myScheme.gov.in
Benefits
20% of Fixed Capital Investment on Plant and machinery.
Application Process
Apply Offline
A micro, small or medium enterprise in Powerloom segment shall duly apply in prescribed form to the Directorate of Textile in Form-A1
before any investment in Plant and machinery (new age shuttle less loom).
Time frame for submission of first Application:
Within 12 months from the date of commencement of commercial production (01.01.2022 to 31.12.2024).
Address:
Directorate of Textiles, Handlooms, Spinning Mills, Silk Weaving & Handloom Based Handicrafts Division
New Secretariat Buildings,
1, K. S. Roy Road, 5th Floor, 'B' Block,
Kolkata 700001
Tel No. 033-2248 4537 / 2248 6271 (Ext. 215)
Fax No. 033-2248 4537
References & Official Links
Scheme Details
| Full Name | Incentive Scheme for MSMEs in Powerloom Sector: State Capital Investment Subsidy |
| Short Title | ISMPSSCIS |
| Level | State |
| Scheme For | Infra |
| Categories | Business & Entrepreneurship |
| States | West Bengal |
| Gender | All |
| Age Range | Any — 31 years |
| Area | Both |
| Source | myScheme.gov.in ↗ |