AGSMAIS
Aatmanirbhar Gujarat Scheme for Assistance to Mega Industries: Assistance of Interest Subsidy
The "Aatmanirbhar Gujarat Scheme for Assistance to Mega Industries" aims to strengthen the overall industrial ecosystem in the State and also enable a larger set of manufacturing companies to emulate the adoption of clean energy and make them future-ready to compete in global markets.
States / UT: Gujarat
Nodal department: Industries and Mines Department
Scheme for: Infra
Scheme profile
DBT (direct benefit transfer): No
Scheme open date: 2022-10-05
Categories: Business & Entrepreneurship
Sub-categories: Setting up / start-up / entrepreneurship
Target beneficiaries: Business Entity, Industries
Tags: Business, Entrepreneurship, Mega Industries, Interest Subsidy, Thrust Manufacturing Sector
Details
The "Aatmanirbhar Gujarat Scheme for Assistance to Mega Industries" is an umbrella scheme launched by the Industries and Mines Department, Gujarat. It aims to empower the state's dynamic mega-industry sector, which significantly contributes to employment, GDP, and exports. Effective from October 5, 2022, to October 4, 2032, this initiative supports growth, investments, and the vision of "Aatmanirbhar Gujarat" and "Aatmanirbhar Bharat."
The component "Assistance of Interest Subsidy" offers a fixed quantum of interest subsidy for new industrial setups or expansion projects, facilitating industrial investments and encouraging economic development.
Benefits
- > Substantial Interest Reduction:
- Interest Subsidy: @7% on the term loan. - Capped Amount: A maximum of 1.2% of eligible fixed capital investment per annum for 10 years
Substantial Interest Reduction:
- Interest Subsidy: @7% on the term loan. - Capped Amount: A maximum of 1.2% of eligible fixed capital investment per annum for 10 years.
Eligibility
- 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 provide direct employment to at least 2,500 persons.
- The unit must belong to one of the thrust sectors as defined in the Guidelines (Refer Page No. 9).
- New industrial units or expansion projects are eligible.
- Units must avail of term loans for fixed capital investment from recognized financial institutions.
- The unit must bear at least 2% interest on term loans, even if availing of other subsidies.
- Units must ensure regular repayment of loan installments.
Application Process
Online
Registration Process:
Step-1: Visit the Investor Facilitation Portal (IFP) portal. Click on "New Investor Registration" to access the registration form.
Step-2: Fill in the Registration Form. Click on "Submit".
Step-3: Verify the E-mail ID using the link sent on your registered E-mail ID.
Step-4: After verification, you will be registered successfully.
Post-Registration Process:
Step-1: Visit the Investor Facilitation Portal (IFP) portal. Click on "Login".
Step-2: Enter the email address and password you used during registration.
Step-3: Click the "Login" button to access your account.
Step-4: Now fill in the required details and mandatory documents about your business to complete the application process.
Helpdesk: Contact Us.
Clarifications
Additional points from the scheme information published on myScheme (not legal advice).
- What is the "Aatmanirbhar Gujarat Scheme for Assistance to Mega Industries"?
- The "Aatmanirbhar Gujarat Scheme for Assistance to Mega Industries" is a state initiative designed to support and strengthen the Mega Industry sector in Gujarat. It aims to enhance growth, encourage investments, and contribute to the vision of self-reliant Gujarat and India.
- When is the scheme operative?
- The scheme is operative from October 5, 2022, to October 4, 2032, covering a period of 10 years.
- What are the objectives of the scheme?
- The scheme aims to boost Mega Industry growth, enhance the industrial ecosystem, encourage investments, and contribute to Gujarat's and India's self-reliance vision.
- Who is eligible to benefit from the scheme?
- Mega Industries established and operating within Gujarat are eligible to benefit from the scheme, as per the criteria defined in the policy framework.
- What is the purpose of the "Assistance of Interest Subsidy" component?
- The component aims to reduce the financial burden on industrial units by subsidizing a portion of the interest on term loans for fixed capital investments.
- Who is eligible for this scheme?
- New industrial units and expansion projects availing term loans for fixed capital investment are eligible.
- What is the interest subsidy rate?
- The interest subsidy is @7%, subject to a maximum of 1.2% of the eligible fixed capital investment per annum.
- How long is the subsidy provided?
- The subsidy is provided for up to 10 years.
- What is the minimum investment required to qualify for the scheme?
- The manufacturing unit must have an investment of at least INR 2,500 crore in plant and machinery.
- How many jobs must a unit create to be eligible?
- The unit must directly employ at least 2,500 persons to qualify for the subsidy.
- What sectors are eligible under the scheme?
- The unit must belong to one of the thrust sectors defined in the state's industrial policy.
- Can units apply for the subsidy before commercial production starts?
- No, the subsidy is disbursed only after the commencement of commercial production.
Definitions
- Mega Industrial Unit
- Gross Fixed Capital Investment (GFCI)
- Eligible Fixed Capital Investment (EFCI)
- Date of Commercial Production (DaCP)
Official links
- https://www.myscheme.gov.in/schemes/agsmais
- https://ic.gujarat.gov.in/documents/commondoc/2022/Atmanirbhar%20Gujarat%20Scheme%20for%20assistance%20to%20Mega%20Industries.pdf
- https://ic.gujarat.gov.in/documents/commondoc/2023/2.Aatmanirbhar%20Gujarat%20Scheme%20for%20assistance%20to%20Mega%20Industries%20Guideline.pdf
- https://cmogujarat.gov.in/sites/default/files/2023-01/AatmaNirbhar-Gujarat_Industrial-Policy_0.pdf
- https://ifp.gujarat.gov.in/IC/digigov.htm?actionFlag=loadCitizenRegPage
References
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Documents Required for Government Schemes
Most government schemes require basic documents for verification. While the exact requirements vary, common documents include:
- Aadhaar Card
- Income Certificate
- Caste Certificate (if applicable)
- Residence Proof
- Bank Account Details
- Educational Certificates (for student schemes)
How to Apply for Government Schemes?
The application process for government schemes may be online or offline depending on the scheme. In most cases, you can follow these steps:
- Check eligibility criteria
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- Fill the application form
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