The Aatmanirbhar Gujarat Scheme for Assistance to Mega Industries is an umbrella initiative launched by the Industries and Mines Department, Gujarat. Designed to empower the state’s dynamic mega-industry sector, this scheme plays a pivotal role in bolstering employment, GDP, and export growth. Effective from October 5, 2022, to October 4, 2032, the scheme is a cornerstone in driving the vision of “Aatmanirbhar Gujarat” and “Aatmanirbhar Bharat.” A key component of this initiative, the Assistance of Interest Subsidy, provides a fixed interest subsidy to new industrial setups or expansion projects, thereby facilitating industrial investments and spurring economic development.
Benefits
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Substantial Interest Reduction:
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Interest Subsidy: @7% on the term loan.
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Capped Amount: A maximum of 1.2% of eligible fixed capital investment per annum for 10 years.
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Eligibility
To qualify for the scheme, the following criteria must be met:
- The mega industry must operate as a manufacturing unit.
- The unit must have a minimum investment of INR 2,500 crore in plant and machinery.
- The unit must create direct employment for at least 2,500 persons.
- The unit must belong to one of the thrust sectors as defined in the guidelines (refer to Page No. 9).
- Both new industrial units and expansion projects are eligible.
- The unit must secure term loans for fixed capital investment from recognized financial institutions.
- The unit must incur at least 2% interest on term loans, even if other subsidies are availed.
- Regular repayment of loan installments is mandatory.
Application Process
Online Registration:
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Visit the Investor Facilitation Portal (IFP):
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Click on “New Investor Registration” to access the registration form.
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Fill and Submit the Registration Form:
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Complete the form and click “Submit.”
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Email Verification:
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Verify your email ID using the link sent to your registered email address. Successful verification completes the registration process.
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Post-Registration:
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Login to the IFP Portal:
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Use your registered email address and password to log in.
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Complete the Application:
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Provide all required details and upload mandatory documents about your business.
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For additional support, users can access the helpdesk via the “Contact Us” option.
Documents Required
- Bank Certificate for the Claim Period.
- Bank/Financial Institute Certified Term Loan Account Statement for the Claim Period.
- IEM Part – B / IL / LOP of the Industrial Undertaking (to be submitted in the first claim only).
- Valid CCA obtained from GPCB (if applicable).
- First Sale Bill (to be submitted in the first claim only).
- Purchase Bill, Sale Bill, and Electricity Bill for the last month of the Claim Period.
- Attendance/Salary Register for the last month of the Claim Period.
- Employment Statement for the last month of the Claim Period in the prescribed format.
- Details of Apprentices (if applicable).
- Valid Insurance Policy for Fixed Assets.
- No Due Certificate from Previous Bank (in case of takeover of Term Loan).
- Bank Sanction Letter (if applicable).
- Certified Term Loan Account Statement for takeover (if applicable).
- Authority Letter duly certified with Board Resolution, Directors/Partners/Owner (authorized person should be any Director/Partner/at least an Employee of the company).
- Copy of PAN Card (to be submitted in the first claim only).
- Copy of Cancelled Cheque (to be submitted in the first claim only).
Frequently Asked Questions
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What is the “Aatmanirbhar Gujarat Scheme for Assistance to Mega Industries”?
It is a government initiative designed to support and boost the manufacturing and mega-industry sectors in Gujarat through various financial incentives including interest subsidies. -
When is the scheme operative?
The scheme is effective from October 5, 2022, to October 4, 2032. -
What are the objectives of the scheme?
To drive industrial growth, attract investments, create jobs, and enhance export performance while contributing to overall economic development. -
Who is eligible to benefit from the scheme?
Manufacturing units meeting the specified investment and employment criteria, particularly those operating within designated thrust sectors. -
What is the purpose of the “Assistance of Interest Subsidy” component?
To offer financial relief by reducing the interest burden on term loans, thereby supporting industrial expansion or new setup projects. -
What is the interest subsidy rate?
The interest subsidy is provided at a rate of 7% on the term loan. -
How long is the subsidy provided?
The subsidy is available for a period of 10 years. -
What is the minimum investment required to qualify for the scheme?
A minimum investment of INR 2,500 crore in plant and machinery is required. -
How many jobs must a unit create to be eligible?
The unit must provide direct employment to at least 2,500 persons. -
What sectors are eligible under the scheme?
Only those units operating in one of the thrust sectors, as defined in the guidelines, are eligible. -
Can units apply for the subsidy before commercial production starts?
Yes, both new industrial units and expansion projects are eligible, provided they meet all other criteria.