Interest Subsidy To Help Entrepreneurs In Gujarat | SupportBiz


Interest Subsidy To Help Entrepreneurs In Gujarat

Tags: Gujarat
A new subsidy scheme for the MSME units for rented plots will also be announced soon under which the government will provide assistance up to 50% of the amount of rent for three years within annual limit of Rs 50,000 for urban areas and Rs 25,000 for rural areas

Ahmedabad: Prior to the seventh Vibrant Gujarat Global Investors Summit scheduled in January 2015, the state government is planning to launch a new incentive scheme for the first-time entrepreneurs for MSME (Micro, Small and Medium Enterprise).

State industries commissioner Kamal Dayani said, "For the first time, the state government has decided to give financial and other incentives to the first time entrepreneurs who are beginning their medium or small scale industry. We are preparing the draft for the new incentive scheme for MSME sector under which special focus will be given to the first time entrepreneurs.''

"The young entrepreneurs will be given 5 to 7% interest subsidy and priority in the land allotment in the new estates to be developed by the GIDC (Gujarat Industrial Development Corporation) in several parts of the state. Earlier, small new entrepreneurs were not able to get the plots as the GIDC minimum plot size was 2,000 sq mt to 10,000 sq mt. Now under the new policy small plots of 500 sq mt will also be given. The state government has announced to give 50% cost benefit for the MSME dedicated GIDC estates so the new entrepreneurs will get infrastructure ready plots at cheap cost. A special committee for the formation of the scheme will prepare a scheme which will be submitted to the state government for the approval shortly. The incentive policy for budding entrepreneurs and overall MSME sector are likely to be announced soon,'' he said.

In the recent budget the state government allocated Rs100 crore for the development of the MSME sector. It has also announced to establish MSME specific new special estates spread over an area up to 50 ha for micro/small units.