Gujarat drops bank loan condition for MSME incentives, transfers Rs 1,100.19 crore

Gujarat govt abolishes mandatory bank loan condition for MSME incentives

Gandhinagar, Oct 14

The incentives were disbursed directly into beneficiaries' bank accounts through a 'single-click' mechanism at a programme held in Gandhinagar.

The government has also reduced around 16 paperwork and documentation requirements to simplify the incentive process and speed up administrative clearances.

Of the total amount distributed, Rs 444.03 crore went to 11,052 beneficiaries under various MSME incentive schemes, while Rs 290.42 crore was paid to 3,591 beneficiaries under textile schemes.

Another Rs 360.89 crore was disbursed to 196 beneficiaries in the large industries sector, and Rs 4.85 crore was provided to 14 beneficiaries under other schemes.

Addressing the gathering, Sanghavi said industrialists and traders had made a significant contribution to Gujarat's development.

"The state government is committed to working alongside entrepreneurs and establishing a transparent administrative system. The speed of file disposal had increased threefold over the past six months," he said.

In another measure aimed at ensuring transparency in industrial land allotment, the Gujarat Industrial Development Corporation (GIDC) allotted 407 plots through an online lucky draw for which 4,665 applications were received.

The plots, each measuring less than 3,000 square metres, are spread across 85 acres at Shekhpat, Khirsara-2 and Sanand-2 and are intended for MSME units.

Sanghavi said the new industrial policy had also attracted more than 346 applications from large industries. "Of these, 27 were from companies that had returned to Gujarat from other states," he said.

The government would give special encouragement to first-generation young entrepreneurs and women-led startups, with a particular focus on promoting industries that generate employment for women in tribal areas.

Referring to the proposed development of 'Smart GIDC' industrial estates, Sanghavi said cleanliness and basic amenities for workers should be given priority.

"Approvals for infrastructure projects would henceforth require integrated planning for drainage, streetlights and service lines, rather than focusing solely on road construction," he said.

He also said a state government team would visit Japan and South Korea to explore opportunities to bring new technologies and global partners to Gujarat.

Entrepreneurs attending the programme shared their experiences of government support, the simplified incentive process and the benefits available under the new industrial policy.

Senior Industries Department officials, office-bearers of the Chamber of Commerce and entrepreneurs attended the event.

— IANS