Gujarat: Chief Minister Bhupendra Patel Announces New Biotechnology Policy

| Updated: February 17, 2022 9:57 pm

Chief Minister Bhupendra Patel on Thursday announced a new ‘Gujarat Biotechnology Policy 2022-27’ to promote rapid and inclusive growth of the biotechnology industry in Gujarat.

Bhupendra Patel said, “Being a policy-driven and business-friendly state, Gujarat has remained at the industry forefront in the country. New forms of entrepreneurship have emerged with the adoption of science and technology in the state.”He further added, “Biotechnology has made significant contributions in solving new-age problems, especially in the field of health and agriculture. For example, the science-driven industry has been instrumental in understanding and fighting the global COVID-19 pandemic. It was due to biotechnology that we got effective rapid antigen tests, RT-PCR tests and vaccines.”

Special features of the Gujarat Biotechnology Policy:
● Through the innovative CAPEX and OPEX models, the overall support rate and support have significantly increased.
● Moreover, to realize Hon’ble Prime Minister Shri Narendra Modi’s vision of ‘Aatmanirbhar Bharat’, strategic projects and mega/large projects have been given particular importance by giving special packages. This will attract new investment through anchor units and existing industries and create new employment opportunities in the state.
● MSMEs with a capital investment of less than Rs. 200 crore will be given maximum assistance of Rs. 40 crore and mega/large projects with a capital investment of more than Rs. 200 crore and special projects like ecosystem empowerment, emerging technologies in challenging areas, and strategic importance will be assisted up to 25% of the total capital expenditure up to a maximum of Rs. 200 crores. This assistance will be provided in the form of 20 quarterly instalments over five years.
● MSMEs with a capital investment of less than Rs. 200 crore will be assisted, a maximum of Rs. 5 crores per annum. Mega/large projects with a capital investment of more than Rs. 200 crore and special projects like ecosystem empowerment etc., will be given an assistance of up to 15% of the total operating cost up to a maximum of Rs. 25 crores per annum. This assistance includes expenses for Power Tariff, Patent Assistance, Marketing Development Assistance, Lease Rental Subsidy, Bandwidth Leasing, and Quality Certification.
● As per the special provisions made in this Biotechnology Policy:
o Encouraging employees: Each local man and woman who has been associated with the applicant company for more than one year will be assisted Rs. 50,000 and Rs. 60,000 respectively.
o Employment Provident Fund: 100% and 75% reimbursement respectively for each female and male employee on the Employment Provident Fund paid by the applicant company.
o Interest Subsidy on term loan: Quarterly return at the rate of 7% against interest paid on term loans of up to Rs. 100 crore, with an annual ceiling of Rs. 7 crores. Besides, quarterly return at the rate of 3% against interest paid on term loans above Rs.100 crore, with an annual ceiling of Rs.20 crore.
o Electricity Duty: 100% reimbursement for five years on the electricity duty paid.
● Industries manufacturing products that are not being manufactured in the country will be covered under strategically important projects. The provision has been made to assist these industries through special packages of ecosystem empowerment and mega/large projects.
● The projects approved under the special package will provide comprehensive facilities for land allotment and other basic infrastructure-related needs like approach road, water supply, electricity, sewerage, etc., through inter-departmental coordination of state government and single point of contact.

Gujarat State Education Minister Jitu Vaghani, British Deputy High Commissioner to Gujarat Mr Peter Cook, Chief Secretary Pankaj Kumar, Senior Secretaries, Secretary of the Department of Science and Technology Vijay Nehra, representatives of nationally and internationally renowned institutes, and representatives from the biotechnology industry were also present at the event.

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