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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 1st January 2015 for 5 years till 31st 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:

For More Info: Click Here

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