“Outstanding Entrepreneur” under “Motivation of Entrepreneurs to Start Industries and Fiscal Assistance to Industries – State Awards to Micro, Small and Medium Enterprises”

Outstanding Entrepreneur Scheme in Puducherry

The “Outstanding Entrepreneur” initiative is part of the “Motivation of Entrepreneurs to Start Industries and Fiscal Assistance to Industries – State Awards to Micro, Small and Medium Enterprises” program. Launched by the Industries and Commerce Department of the Union Territory of Puducherry, this scheme is designed to recognize and reward exemplary entrepreneurs who contribute significantly to the local economy.

Overview of the Scheme

This scheme was established under the New Industrial Policy 2016, which was introduced on October 4, 2016. Its primary purpose is to honor outstanding entrepreneurs and enterprises that align with the objectives set forth in this policy. The program operates throughout the Union Territory of Puducherry, encouraging local business development and sustainability. Applications for the scheme are accepted in offline mode, using a specific form that can be accessed through the official website of the Directorate of Industries and Commerce.

Benefits of the Scheme

• Cash Award: Recipients will receive a monetary award of ₹2,00,000/-.
• Citation: Awardees will be given a formal citation recognizing their achievements.

Eligibility Criteria

• The enterprise must have been operational profitably for a minimum of three years prior to the application date.
• At least 60% of the total employment generated by the enterprise should be provided to residents of the Union Territory of Puducherry.

Application Process

How to Apply Offline

The Director of Industries will announce the call for applications widely to ensure that all eligible entrepreneurs are informed.

1. Interested industrial units must complete the application form available on the official website of the Directorate of Industries and Commerce, Puducherry.
2. Ensure all mandatory fields in the application form are filled out correctly, and attach the required documents, which should be self-attested if necessary.
3. Submit the completed and signed application form along with the documents either in person or via postal service to the relevant authority.

Post-Application Process

1. The Directorate of Industries and Commerce will conduct a merit-based scrutiny of the submitted applications for the state awards.
2. An award Committee will review the merits of each application to make decisions regarding the awards.
3. Successful applicants will be notified by the Director of Industries, who will inform them of their selection to receive the awards.

Official Source

For more information, you can view the details on myScheme.gov.in.