The “Scheme for Marine Products Processing Units” is a sub-scheme under the Investment Promotion Scheme (IPS) for Thrust Sectors by the Dept. of Industries, U.T. Administration of Dadra & Nagar Haveli and Daman & Diu. Initially launched on 3rd July 2015, the scheme has been extended to remain operative until 19th May 2027. The objective of this sub-scheme is to provide Credit Linked Interest Subsidy to new or existing marine product processing units involved in expansion or diversification in the U.T.
Scheme Key Highlights (Short Summary)
• Operative Period: 3rd July 2015 – 19th May 2027
• Sector: Marine Products Processing
• Eligibility: New or existing units engaged in the processing of marine products
• Subsidy: Credit linked interest subsidy for establishment and expansion of units
• Additional Benefits: Emphasis on creating local employment and promoting MSMEs
Benefits
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Credit Linked Interest Subsidy:
• 60% per annum on the loan amount, subject to a maximum of ₹50,00,000 per annum for 5 years or the period of loan repayment, whichever is earlier.
• Available for both establishment and expansion of marine products processing units.
Eligibility
• Unit Type: Must be a New Manufacturing/Service unit or an Existing unit engaged in expansion/diversification in the Marine Products Processing sector.
• Commercial Production Start Date: The unit must commence commercial production between 20.05.2022 and 19.05.2027.
• Location: The unit must be located in the U.T. of Dadra and Nagar Haveli & Daman and Diu.
• Application Timeline: The enterprise must apply for the subsidy within one year from the first loan disbursement date or the date of commencement of commercial production, whichever is earlier.
Application Process
Online Application via Official Portal: https://investdd.in
Registration Steps:
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Visit the Registration page of the Official Website.
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Fill in your details and click “Register”.
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Verify your email through the verification link sent to your inbox.
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Use OTP “111111” to verify your mobile number.
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Upon successful registration, you will receive login credentials via email.
Application Process:
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Visit the user Login page of the Official Website.
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Login using your registered mobile number and PIN sent to your email.
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After successful login, click on the “Departments & Services” tab.
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Scroll down to “District Industries Centre DD & DNH” and click on “Click Here” to apply for the scheme.
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Fill out the Common Application Form and upload all required documents.
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Verify all details and click on “Submit” to complete the application.
Documents Required
• Corporate Identification Number (CIN)
• Taxpayer Identification Number (TIN)
• Permanent Account Number (PAN)
• Goods and Services Tax Number (GST)
• Udyam Registration / Industrial Entrepreneur Memorandum
• Partnership Deed/Company Incorporation Documents
• Land Purchase Deed or Lease Agreement
• Sanction Order from Electricity Department
• Factory License Copy
• Consent to Operate / Renewal from PCC, DNH & DD
• Proof of Participation in Exhibitions
• Bank Statement, Chartered Accountant Bills
Frequently Asked Questions (FAQs)
Q: Are loans sanctioned by banks or financial institutions eligible for subsidy?
A: Yes, term loans sanctioned by banks or financial institutions are eligible for subsidy under this scheme.
Q: What is the eligibility for Interest Subsidy under this Scheme?
A: New or existing marine product processing units engaged in expansion/diversification that start commercial production between 20.05.2022 to 19.05.2027 are eligible.
Q: When does the Interest Subsidy become effective?
A: The subsidy becomes effective from the date of the loan disbursement and is applicable for 5 years or the repayment period, whichever is earlier.
Q: How is the Interest Subsidy disbursed?
A: The subsidy amount is disbursed through the financial institution or directly to the entrepreneur for self-financed units.
Q: What happens if the enterprise defaults on payment?
A: The enterprise may lose eligibility for the interest subsidy if the payment defaults occur.
Q: What is the definition of Expansion/ Diversification?
A: Expansion refers to increasing the production capacity, while diversification involves introducing new products or services.
Q: What is the maximum subsidy available for a marine product processing unit?
A: The maximum subsidy is ₹50,00,000 per annum for 5 years or the period of loan repayment.