Gujarat: Scheme For Financial Assistance To Plastic Industry

Scheme for Financial Assistance to Plastic Industries

Industries Commissionerate under Gujarat Government has introduced a new assistance scheme for plastic industries in Gujarat to motivate entrepreneurs and developing plastic processing sectors.

Objective:

• Encourage and promote entrepreneurs to set up their enterprises for generating employment and to boost up state economy.
• Provide financial assistance to plastic industry by way of interest subsidy and VAT incentives.

Operative Period:

The scheme will come into force from 1^st January 2015 for 5 years till 31^st December 2019.

Eligibility:

• New Enterprises which are registered as MSME unit with respective DIC and engaged in manufacturing of plastic products using plastic as raw material purchased in State only.
• The enterprise must not be availing benefits under any other scheme of State Government.

Benefits:

• Interest Subsidy up to 7% per annum for 5 years on a term loan of maximum Rs. 1 Crore, taken for fixed capital investment in building, plant and machinery, equipment and other related assets.
• Eligible enterprises will be given reimbursement of 80% of net VAT paid for 5 years from date of commercial production. The VAT reimbursement amount will be 70% of fixed capital investment.

Where to Contact:

• Name: Shri N.M. Trivedi
• Designation: Jt. Commissioner of Industries (Incentive)
• Address: Block No. 01, 4^th floor, Udyog Bhawan, Sector 11, Gandhinagar
• Phone: +91 7923252594, 23252584, 23252588, 23252593
• Email:
  • [email protected]
  • [email protected]
  • [email protected]
  • [email protected]
  • www.ic.gujarat.gov.in

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