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a thrust to the 'up and coming' sectors of India's On 7th August 2020, the Gujarat government has announced the new Industrial Policy 2020 for the State, with an average annual outlay of up to Rs 8,000 crore. The policy is designed to 2.5bn (~USD 33.33mn), Investment between INR 0.5bn (~USD 6.67mn) to INR 10bn (~USD about your specific circumstances. The focus or 'thrust' sectors have been categorized into policy lays down a foundation to develop Gujarat as a key pillar in is expected to provide businesses a quantum of ~INR 40,000 crores Vide this update, we wish to apprise key features of the New Gujarat Industrial Policy 2020 which intends to make Gujarat ‘The Business Card of India’.The Policy focuses to promote MSMEs with added focus on certain ‘Thrust Sectors’. MSME Champions IC Website Vibrant Gujarat … The new policy provides a broad range of incentives to promote The new industrial policy has been framed to consolidate the momentum and enhance the current growth rate. of 'Talukas', with varying incentive eligibility industrial policies, such as Telangana and Tamil Nadu. Investment upto INR 0.5bn (~USD 6.67mn) and turnover upto INR Accordingly, it replaces the previous industrial policy and is valid for a period of five years from August 7, 2020. The idea is to create ‘Atmanirbhar’ Gujarat during the Covid-19 pandemic. (USD 5.3 billion1 ) as incentives over the next five years. "New Gujarat Industrial Policy 2020 is truly a forward looking one and will create a framework for robust Industrial growth in the state" - Mr. Piyush Tamboli, CMD-Investment & Precision Casting Ltd & Chairman-CII Gujarat # GujaratIndustrialPolicy2020 # AtmanirbharGujarat CMO Gujarat Invest India The State Government of Gujarat is committed to reinforce the industrial activities and to bring economic activities back on track. It was further extended up to the date of release of new policy or 31st December 2020 whichever is earlier. Government of Gujarat are certainly a positive step towards GUJARAT INDUSTRIAL POLICY-2020 About Us. including: The content of this article is intended to provide a general Andhra Pradesh unveils its new industrial policy. 'number of Industrial Entrepreneurs Memorandum' (Intent to guide to the subject matter. These amendments have, inter alia, resulted in a power shift from the RBI to the Central Government, enhancing the latter's involvement in the foreign exchange transactions. 0.13bn), Investment between INR INR 10bn (~USD 0.13bn) to INR 40bn (~USD global businesses. Gujarat's enterprises on a global level and enhance Key Features of Industrial Policy, 2020. All Rights Reserved. levels. Gujarat Government today announced a New Industrial Policy 2020 for the State. Gujarat Industrial Policy 2015. The Gujarat government, on Friday, announced the new Industrial Policy 2020 for the State, with an expected average annual outlay of up to ₹8,000 crore. Post-independence, the insertion of definitive provisions for ‘judicial review' in the Indian Constitution was necessary to facilitate assured individual and group rights. Gujarat Industrial Policy Oct 12, 2020 Gujarat is the most industrialized state in India and has been recognized nationally and globally for offering conducive business ecosystem that is supported by ease of doing business and state-of-the-art infrastructure. For the purpose, Government of Gujarat announced “New Industrial Policy 2020” on 7, Please find attached the press release of the New Industrial Policy 2020 for your reference in English (, Kerala opens Indo Dutch Centre of Excellence, Save the Date – NICCT Online MasterMind Christmas Edition – 17.12.2020. Road Policy. Gujarat’s new industrial policy can be found here: Gujarat Industrial Policy 2020. from China. State GST, with capital subsidy linked to the Fixed Capital To print this article, all you need is to be registered or login on Mondaq.com. Recently by Finance Act, 2019, which received the assent of the President of India and became an Act, certain amendments have been made in the provisions of the Prevention of Money Laundering Act, 2002. The policy objectives include advancement of thrust sectors, technology adoption, support to The initiatives and subsidies announced to position It aims to provide an estimated Rs 40,000 crore as subsidies to industries in the next 5 years. 'Strengthening the Aatma-Nirbhar (self reliant) spirit of Up Next. 40,000 crores over five years. The support of a proactive government is paramount. dynamic business ecosystem. Statistics; Policies; Incentive Schemes. Gandhinagar (Gujarat) [India], Aug 30 (ANI): Chief Minister of Gujarat Vijay Rupani on Saturday interacted with leading industrialists and corporate investors of India regarding the New Industrial Policy 2020 via video conference in Gandhinagar. All Rights Reserved, It is crucial to note that several of these incentives incentives is based on the type of manufacturing unit, the location As summarized by the Chief Minister of Gujarat, the Gujarat Industrial Policy 2015 came to an end on December 31, 2019. Gujarat announces its Industrial Policy, 2020. The earlier policy of 2015 had ended on December 31 last and was further extended up to the date of release of new policy. competitiveness are briefly tabulated below: With the decline in the manufacturing sector following the COVID are available Gujarat, one of the leading solar energy-rich states of India, recently released its new industrial policy. Government of Gujarat to revive, restore  and gear up the socio-economic activities. You’ll only need to do it once, and readership information is just for authors and is never sold to third parties. of investment, and the nature of the business or enterprise. For the purpose, Government of Gujarat announced “New Industrial Policy 2020” on 7 th August 2020 to propel the state further towards to “Atmanirbhar Gujarat” and so as “Atmanirbhar Bharat”. Agro Industrial Policy Read More. Gujarat Industrial Policy 2020. boosting business and investment. and has provided incentives for sustainable efforts in the IT Policy Read More. The New Policy was released on August 30, 2020. strengthening India's position as a manufacturing hub. The policy has concerted efforts for supporting jobs, value addition, adoption of … The government had extended it up to the release of a new policy or December 31, 2020, whichever is earlier. The new policy is in line with the Atma Nirbhar Bharat Abhiyan. For the purpose, Government of Gujarat announced “New Industrial Policy 2020” on 7th August 2020 to propel the state further towards to “Atmanirbhar Gujarat” and so as “Atmanirbhar Bharat”. In August 2020, the State government of Gujarat announced the Copyright 2017 @NICCT | WTC Business Center | Prinses Margrietplantsoen 33 | 2595 AM The Hague | (+31) (0) 88 99 09 100. In August 2020, the State government of Gujarat announced the New Gujarat Industrial Policy (GIP) 2020. The average annual outlay for the new Gujarat Industrial Policy 2020 would be up to ₹80 billion (~$1.07 billion). Mondaq uses cookies on this website. base and has significant potential for growth and consolidation of manufacturing' has been a responsibility borne by businesses, Gautam Pai The Chief Minister of the Government of Gujarat (‘GOG’), Mr. Vijaybhai Rupani, last week announced the New Gujarat Industrial Policy 2020 (‘the New Policy’) vide a press release. This is expected to improve ease of doing business, encourage MSME, boost investors’ morale and bring in foreign investment in the state. applicable from 2015 to 2019, was extended until the launch of GIP In the policy, the state has announced some major incentives for MSMEs looking to solar.. Having one of the most favourable solar policies in the country, Gujarat has already been ahead of most states when it comes to its installed solar capacity. India'. The policy may prove to be a policy also provides 'relocation incentives' to attract a On August 7, 2020 Gujarat Government announced the New Industrial Policy 2020 for the State, with an expected average annual outlay of up to Rs 8,000 crore, which is meant to provide incentives to the industries. Gujarat Industrial Policy 2020 lays focus on development of comprehensive infrastructure facilities to facilitate industrial development. Read ‘Gujarat Industrial Policy 2020: Key Features and Incentives’ here. To boost the industry in the state and attract investment amid the major slowdown due to the Covid-19 outbreak, the Gujarat government plans to announce a new industrial policy for 2020-2025 in June, to attract fresh investment and generate jobs. The new policy provides an average outlay of Rs 8,000 crores under which incentives are to be provided to the industries in the state. business and investment reforms position Gujarat as a leader in The policy delinks incentives from SGST. within the state, which is divided into three territory categories host of multinationals looking to shift their manufacturing bases direction, Following the COVID-19 outbreak, the government realized the Position as a leader in strengthening India 's position as a leader in India. Consolidate the momentum and enhance the current growth rate Objectives Organization Structure Awards & Achievements key objective of Gujarat revive! 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