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Gujarat Targets Rs 10,000 Cr Investment With New Policy
10 Jun
Summary
- New 'ultra mega' industry category requires Rs 10,000 crore investment.
- State adds semiconductor and drone manufacturing to thrust sectors.
- Companies may receive up to 40% incentives on capital investment.
Gujarat is poised to introduce a new 'ultra mega' industry classification within its upcoming industrial policy, expected in the next two weeks. This new category is designed for major investments, mandating a minimum of Rs 10,000 crore and the creation of at least 3,000 jobs.
The policy expansion also broadens the list of 'thrust sectors' from nine to sixteen. New additions include semiconductor ancillary units, nuclear power equipment manufacturers, and drone manufacturers, alongside existing sectors like green energy and mobility.
Companies meeting the stringent 'ultra mega' criteria could be eligible for substantial fiscal support, potentially receiving up to 40% in incentives based on their capital investment. These incentives may be offered as capital subsidies, interest subsidies, or power tariff benefits, providing flexibility for businesses.
