"Innovation in Technology [Product (or) Process]" under “Motivation of Entrepreneurs to Start Industries and Fiscal Assistance to Industries - State Awards to Micro, Small and Medium Enterprises”

DBT (direct benefit transfer): No

Categories: Business & Entrepreneurship

Sub-categories: Intellectual property rights and patents, Setting up / start-up / entrepreneurship

Target beneficiaries: Business Entity

Tags: Innovation, Technology, MSME, Industry, Patent

• Cash Award of ₹2 00 000/- and a Citation

Who administers the "Innovation in Technology [Product (or) Process]" State Award Scheme?

The scheme is administered by the Industries and Commerce Department of the Union Territory of Puducherry.

When was the scheme introduced, and under which policy framework?

The scheme was introduced under the New Industrial Policy 2016, which was implemented on 4th October 2016.

What are the benefits of receiving the "Innovation in Technology [Product (or) Process]" State Award?

Recipients of this award receive a cash prize of ₹2,00,000/- along with a citation in recognition of their innovative contributions.

What categories of awards are provided under "Motivation of Entrepreneurs to Start Industries and Fiscal Assistance to Industries - State Awards to Micro, Small and Medium Enterprises"?

Awards are given in categories such as Outstanding Entrepreneur, Outstanding SC/ST Entrepreneur, Innovation in Technology (Product or Process), Outstanding Exporter, and Outstanding Artisan of the Year.

What are the financial benefits provided under this scheme?

Recipients of the awards are granted a cash award of ₹2,00,000/- along with a citation.

Who constitutes the Committee responsible for granting these awards?

The Committee consists of the Director of Industries and Commerce, Puducherry as Chairman, along with members from various departments such as DSTE, Finance, District Industries Centre, and Directorate of Industries and Commerce.

What is the role of the Committee in the awarding process?

The Committee evaluates the merits of each case for the grant of the award and makes final decisions regarding the awards.

Are there any conditions for eligibility to receive these awards?

Yes, one of the conditions is that the industrial unit must provide at least 60% of employment to the people of the Union territory of Puducherry out of its total employment strength.

How are the selected enterprises notified about their eligibility for the awards?

The Director of Industries notifies and informs the selected enterprises about their eligibility to receive the awards.

What was the impetus for formulating the new Industrial Policy, 2016?

The need for a new policy arose due to factors such as the inability to achieve anticipated growth in the industrial sector after the introduction of the Industrial Policy 2013, global economic recession, and differences in taxation.

When was the Gazette notification for the new Industrial Policy, 2016 issued?

The Gazette notification for the new Industrial Policy, 2016 was issued on 4th October 2016 through G.O. Ms. No. 7/2016/Ind.A, Puducherry.

How are the awards under this scheme intended to benefit the manufacturing sector in India?

The awards aim to motivate entrepreneurs to start industries and provide fiscal assistance to industries, aligning with the Government of India's renewed emphasis on the manufacturing sector and creating additional employment opportunities for the youth.

• https://www.myscheme.gov.in/schemes/itpp-mesifai-sa-msme
• https://industry.py.gov.in/sites/default/files/state-award-go.pdf

• Guidelines